Let's say I have an asset with an ACB of $5,000 and the FMV is $7,500.Under ITA

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Let's say I have an asset with an ACB of $5,000 and the FMV is $7,500.Under ITA 69(1) what happens if I sell the asset to my dad at $10,000? What are the tax implications to both me and my dad?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Posted Date: Aug 17, 2021 04:33 AM

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Let's say I have an asset with an ACB of $5,000 and the FMV is $7,500.Under ITA

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According to ITA 691 When a taxpayer acquires something from a person with whom he or she w... View the full answer

Microeconomics

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