Which of the following statements involving ITA 85 rollovers with excess consideration is correct?
A)Only one-half of the shareholder benefit under ITA 15(1)will be included in Net Income For Tax Purposes.
B)The amount of the shareholder benefit under ITA 15(1)will be added to the adjusted cost base of the consideration received by the transferor.
C)The amount of the shareholder benefit under ITA 15(1)will be added to the adjusted cost base of the shares received by the transferor.
D)The amount of the shareholder benefit under ITA 15(1)will be added to the PUC of the consideration received by the transferor.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements involving ITA 85 rollovers with excess consideration is correct?
A)Only one-half of the shareholder benefit under ITA 15(1)will be included in Net Income For Tax Purposes.
B)The amount of the shareholder benefit under ITA 15(1)will be added to the adjusted cost base of the consideration received by the transferor.
C)The amount of the shareholder benefit under ITA 15(1)will be added to the adjusted cost base of the shares received by the transferor.
D)The amount of the shareholder benefit under ITA 15(1)will be added to the PUC of the consideration received by the transferor.

Which of the Following Statements Involving ITA 85 Rollovers with Excess