Canada Tax Questions Answered by Experts
Thanks for your answer!
If she is alive and wants to transfer shares, what is the difference if she give the shares as a gift or sell those shares to them? Does she have to pay capital gain tax even if she give the shares as a gift, and also if she sells the shares to them?
If the shares are a gift, when will the daughter in law and son have to pay capital gain tax?
If she sells the shares, when will they pay capital gain tax?
Also , if she wants to the either of the above, what is the process to transfer her shares?
Can you give some general advise on that? Is there a place she can contact to get the paper work done that is not so costly to her?
since the company is very small,and the only people involved are the son, daughter in law,and the son. If she wants to gift this to them, does she need to go through a long process, and is there lot of paper work involved. could she not get the forms and have those filled by a bookkeeper and send for registrations. She just want to avoid lot legal fees. All she wants to do is to keep it as simple as possible.
Thanks for being so patience, and this is my last question. could you please also tell where we can get the documents to fill in the necessary information so she does not have to go to a lawyer. Does she need to draw up letter saying that she is gifting her shares to son and daughter in law
Thanks you so much for your help, once I get this answer back