Tax Tips and Traps: Charting a Path during the Sale of Business Assets
Author: Jeremy Comeau and Kyle Ross
This paper reviews some fundamental asset sale tax concepts to help corporate lawyers understand the basic tax consequences that could arise from the sale. Topics include classification of property, depreciable versus non-depreciable capital property, drafting tips and traps, earn-outs and contingent considerations, restrictive covenants, common tax elections, and hybrid sales.
Comments focus on transactions involving a private corporation selling all the assets used in an active business carried on in Canada.
This paper is part of a collection presented at LESA’s Tax Law for Corporate/Commercial Transactions program in Calgary on October 17, 2019 and in Edmonton on October 28, 2019.
These materials are an electronic product in Adobe PDF format. Shortly after your purchase, you will receive an email with instructions on how to download the complete PDF.
Click here to view some sample pages.
This paper is also offered as part of a Seminar on Demand. Purchasing the Seminar on Demand allows you to stream video recordings of seminar presentations and download PDF materials.