Irene is considering transfers of several of her personal investments. Below is a summary of her current plans. All the investments described below are investments in public company shares.

1. She wants to gift shares worth $10,000 to her 14-year-old daughter. The shares have an adjusted cost base (ACB) to Irene of $6,000 and earn an annual dividend of $1,000.

2. She wants to sell shares worth $22,000 to her adult sister for half the value ($11,000). The shares have an ACB to Irene of $15,000. These shares earn an annual dividend of $750.

3. She wants to transfer shares with a fair market value of $30,000 to her wholly owned (100% controlled) corporation, Irene Consulting Ltd. The shares have an ACB of $40,000.

Required:

Determine the tax implications for Irene of each of the planned transfers of shares. Indicate the ACB of the shares to the planned transferee in each case.