Weekly Tax Tips
Defer Capital Gains Where Proceeds Reinvested in a Small Business Corporation
Date: 24 Sep 2010
If you own shares of a small business corporation and dispose of the shares, recognition of the capital gain may be deferred if you reinvest the proceeds from the sale of those shares in another small business corporation. There are several conditions that must be met to be eligible to defer the capital gain. You should consult with your BDO advisor to determine if you are eligible for the deferral.
This tax tip is a publication of BDO Canada LLP on developments in the area of taxation. This material is general in nature and should not be relied upon to replace the requirement for specific professional advice. The information in this tax tip is current as of 24 Sep 2010.
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