Corporate Restructuring - Section 85: Transfer of Property (On-Demand - CPA PRO)
Overview
Clients often engage professional accountants to assist with transactions designed to accomplish objectives such as creditor proofing, estate planning, and corporate restructuring. These transactions require that practitioners possess comprehensive knowledge of Section 85 in the Income Tax Act (ITA) in order to meet the client’s objectives in a tax-efficient manner. Section 85 interacts with several related and anti-avoidance provisions that professionals should understand in relation to these engagements.
Access expires 180 days from purchase date |
Course Description
This course does not cover the accounting treatment of the transfer of property pursuant to a Section 85 election.
Applicable for
Participants in this seminar may also benefit from Corporate Restructuring – Fundamentals, Advanced Tax Planning Strategies and Corporate Restructuring – Application for Private Corporations.
Learning Objectives
- identify the conditions necessary to make a Section 85 election and the property eligible to transfer under Section 85
- apply the upper and lower limits of an “agreed amount” for the transfer or property
- determine the cost amount of property transferred under Section 85
- compare and contrast the requirements of and circumstances when Section 85 would be used instead of Section 85.1
- be aware of the relevant anti avoidance rules associated with a transfer of property under Section 85
- complete a T2057 election form and be aware of the deadlines for filing a Section 85 election and related penalties
Content
- the purpose and use of Section 85 of the ITA
- conditions of application
- agreed amount: election and limits
- cost of consideration and other rules
- paid-up capital and legal characteristics of shares received
- anti-avoidance rules and other considerations
- election deadline and penalties
Course Content Created: November 2024
The information is current as of the creation or last updated date. While we strive to keep our inventory updated and periodically remove outdated titles, changes in accounting, tax, legislation and technology may occur. Purchasers should note the date and verify for themselves if the course is still relevant to their needs.Presenter
Shane Onufrechuk, FCPA, FCAAbout This Product
On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Slides and any corresponding handout materials are included where available.These titles are eligible for Verifiable CPD Hours – in order to claim these hours as verifiable, you will be required to successfully complete a short quiz. You will be able to print or save your electronic certificate of completion.
Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.
Please note that not all on-demand courses include downloadable materials such as course notes or slides.
How to get started
Upon completion of purchase, go to mylms.bccpa.ca and log in using your CPABC Online Services credentials. Click “Go to your Courses and Materials” to go to your Learning Center, then find and click on your course title.
Course Dates & Registration
- 7
- CPD Hours
- 0
- Ethics Hours
- 0
- AML Hours
- 10
- Credits
Starting April 1, 2026, a 2.1% fee will be applied to all credit card transactions. Learn more about this fee and how it relates to PD registrations.
Corporate Restructuring - Section 85: Transfer of Property (On-Demand - CPA PRO)
- 7
- CPD Hours
- 0
- Ethics Hours
- 0
- AML Hours
- 10
- Credits
Overview
Clients often engage professional accountants to assist with transactions designed to accomplish objectives such as creditor proofing, estate planning, and corporate restructuring. These transactions require that practitioners possess comprehensive knowledge of Section 85 in the Income Tax Act (ITA) in order to meet the client’s objectives in a tax-efficient manner. Section 85 interacts with several related and anti-avoidance provisions that professionals should understand in relation to these engagements.
Access expires 180 days from purchase date |
Course Description
This course does not cover the accounting treatment of the transfer of property pursuant to a Section 85 election.
Applicable for
Participants in this seminar may also benefit from Corporate Restructuring – Fundamentals, Advanced Tax Planning Strategies and Corporate Restructuring – Application for Private Corporations.
Learning Objectives
- identify the conditions necessary to make a Section 85 election and the property eligible to transfer under Section 85
- apply the upper and lower limits of an “agreed amount” for the transfer or property
- determine the cost amount of property transferred under Section 85
- compare and contrast the requirements of and circumstances when Section 85 would be used instead of Section 85.1
- be aware of the relevant anti avoidance rules associated with a transfer of property under Section 85
- complete a T2057 election form and be aware of the deadlines for filing a Section 85 election and related penalties
Content
- the purpose and use of Section 85 of the ITA
- conditions of application
- agreed amount: election and limits
- cost of consideration and other rules
- paid-up capital and legal characteristics of shares received
- anti-avoidance rules and other considerations
- election deadline and penalties
Course Content Created: November 2024
The information is current as of the creation or last updated date. While we strive to keep our inventory updated and periodically remove outdated titles, changes in accounting, tax, legislation and technology may occur. Purchasers should note the date and verify for themselves if the course is still relevant to their needs.Presenter
Shane Onufrechuk, FCPA, FCAAbout This Product
On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Slides and any corresponding handout materials are included where available.These titles are eligible for Verifiable CPD Hours – in order to claim these hours as verifiable, you will be required to successfully complete a short quiz. You will be able to print or save your electronic certificate of completion.
Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.
Please note that not all on-demand courses include downloadable materials such as course notes or slides.
How to get started
Upon completion of purchase, go to mylms.bccpa.ca and log in using your CPABC Online Services credentials. Click “Go to your Courses and Materials” to go to your Learning Center, then find and click on your course title.
Course Dates & Registration
Starting April 1, 2026, a 2.1% fee will be applied to all credit card transactions. Learn more about this fee and how it relates to PD registrations.