Question 2 - NAL transfers- (8 marks) (15 min) Select EITHER Part A or Part B. If you answer both parts, only the FIRST PART WILL BE MARKED Part A Transfer to mother and 16-year-old daughter. Your client Aisha owns shares in ABC Corporation. The original shares cost $100,000, and they currently have a FMV of $1 50,000. Aisha is considering transferring the shares to her mother or to her 16-year-old daughter. Required: For the following three scenarios, determine the i) amount of income to be recorded by your client Aisha when she transfers the shares, as well as the fil ACE of the shares to the taxpayer receiving the shares lie. her mother or her 16- year-old daughter), and iii) shares will be subsequently sold by the taxpayer receiving the shares; assume the sale price in the future is $200,000; calculate the total gain and who should report it (i.e. Aisha or the taxpayer receiving the shares). Impact to Imjpact to Impact to Aisha mother daughter Scenario 1: Income (gain) to Aisha gifts the record on date of shares transfer New ACE of shares Amount of double taxation from future sale / is attribution? Scenario 2: Income (gain) to Aisha sells the record on date of shares for transfer $1 70,000 New ACE of shares Amount of double taxation from future sale / is attribution? Scenario 3: Aisha Income (gain) to sells the shares record on date of for $130,000 transfer New ACE of shares Amount of double taxation from future sale / is attribution