The use of ITA 85(1)to transfer property to a corporation would result in a benefit to a shareholder under ITA 15(1)in a situation where:
A)the fair market value of the property transferred is less than the consideration received.
B)a capital gain is triggered on the transfer resulting in taxable income to the transferor.
C)the elected value is received entirely in the form of non-share consideration.
D)the fair market value of the property transferred is greater than the consideration received.

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The Answer of The use of ITA 85(1)to transfer property to a corporation would result in a benefit to a shareholder under ITA 15(1)in a situation where:
A)the fair market value of the property transferred is less than the consideration received.
B)a capital gain is triggered on the transfer resulting in taxable income to the transferor.
C)the elected value is received entirely in the form of non-share consideration.
D)the fair market value of the property transferred is greater than the consideration received.

The Use of ITA 85(1)to Transfer Property to a Corporation