Individual A owns shares of a Canadian$-$controlled private corporation. All of the corporation$$s past income has been eligible for the small business deduction. The shares are valued at $$500,000$ and have an ACB and PUC of $$200,000.$ In the current year, The corporation redeems the shares and A receives $$500,000.$ What amount is included in A$$s taxable income?

Answer rating: 100% (QA)

In this scenario Individual A will recognize a capital gain on ... View the full answer