Ms. Kline, a resident of Canada, is the sole shareholder of KI Inc. She plans to transfer
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1. For each of the four assets individually, state the amount that should be elected as proceeds under Section 85 of the Income Tax Act.
2. For each of the four assets individually, state the amount of cash and the value of the preferred shares that Ms. Kline should accept as payment for the assets.
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Related Book For
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 2014-2015 Version
Authors: Joan Kitunen, William Buckwold
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