Section 48.1

Subsection 48.1(1) - Gain when small business corporation becomes public

Substantially all of the assets of a private corporation (Holdco) were the shares of a connected corporation (Opco) carrying on a Canadian active...

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Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 125 - Subsection 125(7) - Canadian-Controlled Private Corporation - Paragraph (c)	para. (c) relevant where Holdco’s asset was shares of Opco but Opco shares also were held by Pubco	74

S.48.1 will not be available to individuals who hold shares of a Canadian-controlled private corporation that amalgamates with a public...

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Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 89 - Subsection 89(1) - Public Corporation		74

An election under s. 48.1(1) (where available) deems the electing shareholders to have disposed of their shares of a small business corporation...

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Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 120.4 - Subsection 120.4(1) - Split Income - Paragraph (e)		181