When a Canadian corporation is capitalized by the purchase of treasury shares, it would be incorrect to
Fantastic news! We've Found the answer you've been seeking!
Question:
When a Canadian corporation is capitalized by the purchase of treasury shares, it would be incorrect to say....
There would be no tax consequences to the existing shareholders.
All funds paid by the corporation back to the purchasers would be included in their taxable income.
The stated capital or paid-up capital of the shares would equal the amount the corporation received for the shares.
Any loss on the subsequent sale of the shares would be treated as a capital loss.
Related Book For
Posted Date: