Transfer of assets to Limited company on incorporation
emma1801
Registered Posts: 55 Regular contributor ⭐
I need to make an election to transfer assets at Nil tax written down value S266 CAA 2001
Should I enter this on the individual tax return SA100 or on the capital gains summary pages SA108, can any one advise?
Should I enter this on the individual tax return SA100 or on the capital gains summary pages SA108, can any one advise?
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Comments
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It would be better to seek the advice of an incorporation company before you make the final call. I remember having the same confusion back in 2011, although I do not know whether you have the exact same doubts. People from Ontario Business Central http://www.ontariobusinesscentral.ca/ stepped in to help me out in resolving the issue.-1
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Thank you for your advice, yes I did seek advice in the end.0
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If you transfer at nil tax wdv then it is not a CGT issue as these assets have been subject to a trade and CA's claimed.Regards,
Burg0
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