Emigration - Tax Planning Horace Richards, a resident of Nova Scotia, plans to emigrate from Canada on December 31, 2018. On that date, he will own the following assets: Savings Account The balance in this account is $85,600. Residence This property was purchased for $130,000, including $45,000 for the land. Its fair market value on December 31, 2018 is $240,000, including $60,000 for the land. Cottage This property was purchased for $345,000, including $95,000 for the land. Because a large nearby development has flooded the market with low price units, it has a fair market value on December 31, 2018 of $300,000, including a value for the land of $50,000. Horace has rented out this property since its purchase and reported a small rental income every year. He has never taken CCA on the property. SUV Horace owns a Honda SUV that cost $35,000. Its fair market value on December 31, 2018 is $18,000. RRSP The December 31 balance in Horace's RRSP is $186,000. Shares In A CCPC Horace is a minority shareholder of a CCPC. The CCPC owns and operates five apartment buildings. More than 80 percent of the fair market value of the shares is derived from the value of these buildings. The adjusted cost base of these shares is $87,000 and they have a December 31, 2018 fair market value of $123,000. Shares In Public Companies Horace owns a portfolio of publicly traded shares which have an adjusted cost base of $120,000. Their fair market value on December 31, 2018, is $135,000. Required: A. For each of the listed assets, indicate the tax consequences, including any amounts of deferred income, that would result from Horace's emigration from Canada. Assume that he does not make any elections at the time of his move. Ignore the lifetime capital gains deduction