Mr A owns land with an adjusted cost base of $600,000 and an fair market value of $800,000 He sells this land to his spouse for its fair market value of 800,000 Determine the following amounts 1 Assuming Mr A does not elect out of ITA 73(1), what would be the tax consequences to Mr A (i e , inclusion to his NIFTP) 2 Assuming Mr A does not elect out of ITA 73(1), what would be the tax cost of the property (i e , ACB) to his spouse after the sale 3 Assuming Mr A elects out of ITA 73(1), what would be the tax consequences to Mr A (i e , inclusion to his NIFTP) 4 Assuming Mr A elects out of ITA 73(1), what would be the tax cost of the property (i e , ACB) to his spouse after the sale

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Mr  A owns land with an adjusted cost base of $600,000 and an fair market value of $800,000  He sells this land to his spouse for its fair market value of 800,000  Determine the following amounts  1  Assuming Mr  A does not elect out of ITA 73(1), what would be the tax consequences to Mr  A (i e , inclusion to his NIFTP)    2  Assuming Mr  A does not elect out of ITA 73(1), what would be the tax cost of the property (i e , ACB) to his spouse after the sale    3  Assuming Mr  A elects out of ITA 73(1), what would be the tax consequences to Mr  A (i e , inclusion to his NIFTP)    4  Assuming Mr  A elects out of ITA 73(1), what would be the tax cost of the property (i e , ACB) to his spouse after the sale

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Mr. A owns land with an adjusted cost base of $600,000 and an fair market value of $800,000. He sells this land to his spouse

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