Asset rollover

The first goal of an asset rollover is to transfer property to a business corporation without tax implications or allowing at least their deferral. These mechanisms are provided by the Income Tax Act. the transferred property must be subject to an assessment of their value and the consideration received by the business corporation must include at least one share of its share capital. An exchange of shares between a shareholder and the business corporation may also be subject to a tax rollover. Some rollovers require the filing of tax forms to the relevant authorities.