Accountants, role

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					                      TAX ASPECTS OF BUYING OR SELLING ASSETS OR SHARES



TAX ASPECTS OF BUYING OR SELLING ASSETS OR SHARES

Common Client Situations                                              161
Accountants, role                                                     162
Analysis of Tax Issues                                                162
Assets or Shares - General "Non-Tax" Comments                         164
Seller's Position - Assets v. Shares                                  162
         One Tier of Tax – share sale                                 162
         Two Tiers of Income Tax – asset sale - corporate &           162
         personal
         General Anti-Avoidance Rule [GAAR]                           162
         Computing S's After-Tax Proceeds - Asset v. Share Deal       162-163
         Disposition of qualified small business corporation shares   164
         (500k CG exemption)
Buyer's Position - Assets v. Shares                                   165
         Assets                                                       165
         Shares                                                       165-167
Assets - Specific Considerations                                      167
         Accounts Receivable                                          167-168
         Inventories                                                  168
         Prepaid Expenses                                             168
         Non-Depreciable Fixed Assets                                 168
         Depreciable Fixed Assets                                     168-69
         Goodwill                                                     169
         Bonds, Debentures, Notes                                     169
         Existing Tax Reserves                                        170
         Payment Arrangements                                         170
         Tax-Deferred Transfers                                       170
Goods and Services Tax ("GST")                                        170-171
Non-Residents [ITA s.116]                                             171-72
       "Taxable Canadian Property"                                    172
       Tax Treaty                                                     172
Drafting Agreements and Special Tax Clauses                           172

				
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