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 Contents
- Introduction
- Types of Purchase Agreements
- Types of Security When Financing the Purchase
- Negotiating the Terms
- Special Considerations
- Taxation on Purchase and Sale
- Understanding Tax Implications
- Ownership Structure
- Establishing a Price and the Income Tax Consequences
- Unanticipated Consequences
- No Capital Gains Deduction on Equipment
- Livestock, Crops and Supplies
- Principal Residence
- RRSP's
- Retiring Allowances
- CPP
- Insurance
- Donations
- Subsequent Gifts Of Cash
- Definitions
- Depreciable Assets
- Capital Cost Allowance
- Undepreciated Capital Cost Allowance
- Recaptured Depreciation
- Capital Gains
- Taxable Capital Gains
- Eligible Capital Expenditure
- Capital Gains Deduction
- Qualified Farm Property
- Family Farm Partnership
- Family Farm Corporation
- "Rollover" Transfer Of Property
- Transfer of Farm Property
- Transfer of Family Farm Partnership Interest
- Transfer Of Shares In A Family Farm Corporation
- Special Considerations for "Qualifying" Family Farm Corporations for the Tax Deferred Rollover
- Definition of a Family Farm Corporation
- Examples of Qualified Property
- Examples of Non-Qualified Property
- Non-Qualified Farm Assets
- Planning Solutions
- Buy-Sell Agreement
- Cash to the Shareholders
- Purifying the Company
- Planning for a Sale
- Replacement Property Rules
- Reserves
- Additional Internet Links
- Critical Issues Checklist At A Glance
- Purchase Agreement
- Security
- Negotiating Terms
- Special Considerations
- Taxation of Land Purchase and Sales
- Capital Gains and Losses
- Introduction
- Capital Gains and Losses Defined
- Capital Gains Exemption
- How Do You Calculate a Capital Gain or Loss?
- Individual Capital Gains Exemption… An Example
- Capital Gain Reserves
- Principal Residence Exemption
- Special Alternatives for Farmers
- Other Capital Gain Notes
- Summary
- Alternative Minimum Tax Calculation
Appendix
- List of Revenue Canada Bulletins, Circulars and Rulings Available
- IT-218R - Income Tax Act: Profit, Capital Gains and Losses from
the Sale of Real Estate
- IT-425 - Income Tax Act: Miscellaneous Farm Income
- IT-120R4 - Principal Residence on Land Used in a Farming Business
- How Much Debt Can you Afford When Buying Farmland
- Establishing the Value of Land
- Property Transfers
- Alternative Minimum Tax
- Taxation Series: Capital Gains and Losses
- Taxation Series: PST/Retail Sales Tax Act - farm use equipment and other items
- Tax Consideration on the Sale of Dairy Quota
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