Course content

    1. Presentation

    2. Recording

About this course

  • $78.00
  • 2 CPD hours
  • December 6, 2022

Course description

The two-hour course provides a fresh new look at section 85 rollovers. The seminar will begin with basic concepts such as, for example, what properties are eligible, what is the elected amount, and how to compute the paid-up capital of the consideration shares. The course shall describe the common usages for section 85, as well as various traps that may arise when the rollover is used. In particular, the course will discuss the possibility of a PUC grind under subsection 84(1), HST issues that may arise on any asset transfer, as well as the gifting provision under paragraph 85(1)(e.2). Recent developments in CRA interpretations and cases will also be discussed.

TOPICS

  • Basic concepts: Elected amount, Boot, PUC of consideration shares and FMV rule
  • Practical Tips and Traps in Filling out the T2057
  • Traps to watch out for: 84(1), 85(1)(e.2) and HST

    • Instructor(s)

    Manu Kakkar

    Manu has over 20 years of experience in taxation in both domestic and international, personal, and corporate taxation as well as expert witness reports and testimony. He is an award winning and prolific tax writer. His Master of Taxation thesis on butterfly reorganizations won 2 awards and was published in the Canadian Tax Journal. Manu has published and presented over 450 tax articles and presentations since 2001 across Canada. Manu is an authority in taxation as his name has been cited 41 times in the Income Tax Act.

    Boris Volfovsky

    Partner, CPA, CA
    Boris has over 17 years of experience in public practice. Before becoming a partner at CPA Solutions LLP Boris worked at one of the big four national firms as a senior tax manager in the private enterprise group.

    Boris has vast experience in working with owner managers and their small, medium and large private corporations across industries.

    In addition Boris is also involved in the tax community through the facilitation of the In-Depth tax courses, facilitation of tax week under the former School of Accountancy and through presenting on various tax topics at YDCPAA, PD Consortium and AJAG.