ADMS 3520 Lecture Notes - Lecture 6: Savings Account, Income Splitting, Vale Limited

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Lecture 6: non-arm"s length transactions, departure from canada and death of a. Recommended exercises and self-study problems exercises 9-8, 9-9, 8-15, 8-16, 9-15, 9-16, 9-17, 11-10, 20-16, 20-17, 20-19 self-study problems 9-8, 9-9 self-study problems 9-11 (ignore the part about farm land), 9-12. The non-arm"s length transaction rules determine the deemed proceeds of disposition and adjusted cost base (acb) for gifts and transfers to non-arm"s length persons. This is relevant for determining: (a) the capital gain at the time of the transfer and (b) the future capital gain to the new owner of the property (when he/she sells the property) Rules apply to transfers (gifts or sales) when the transfer is between persons (individuals, corporations, etc. ) who are not at arm"s length see example at 9-170 for a theoretical tax avoidance opportunity in non-arm"s length transfers. Ita 251(1): related persons are deemed to not deal with each other at arm"s length.

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