For an amalgamation to be completed on a tax-free basis Multiple Choice all corporations must be Canadian; All assets and liabilities must become assets and liabilities of the new corporation; new treasury shares must be issued for the new corporation. more than 50% of the corporations must be Canadian; All assets and liabilities must become assets and liabilities of the new corporation; the controlling shareholders must be Canadian. all corporations must be Canadian; All assets and liabilities must become assets and liabilities of the new corporation; the controlling shareholders must be Canadian. all corporations must be Canadian; All assets and liabilities must become assets and liabilities of the new corporation; all of the shareholders of the old corporations must become shareholders of the new corporation