A Section 85 Rollover can be used to reduce personal taxes when incorporating your business. This video will explain how a S85 works and give some examples to illustrate this tax planning technique.
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CONTENTS OF THIS VIDEO

00:00 Intro
00:45 What is a Section 85 Rollover?
01:30 How Does a Section 85 Work?
02:20 Why Use a Section 85 Rollover?
02:59 Common Scenarios for Using a Section 85
04:22 Example 1: Incorporating When Goodwill Exists
05:28 Example 2: Transferring Land to a Corporation
06:58 How to Complete a Section 85 Rollover
07:12 Step 1 Determine the Value of Assets
07:30 Step 2 Incorporate a New Company
08:00 Step 3 Transfer Assets Using Form T2057
08:37 Step 4 Declare Any Capital Gains on Personal Taxes
09:01 Should a S85 Always Be Used When Goodwill Exists?
09:28 Example Where Goodwill is Attached to the Owner
09:58 Final Thoughts

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MENTIONED IN THIS VIDEO

► What is a Section 85 Rollover Blog Post
https://www.avalonaccounting.ca/blog/...

► How to Incorporate a Company Blog Post
https://www.avalonaccounting.ca/blog/...

► How to Fill the T2057 Form
https://www.avalonaccounting.ca/blog/...

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FAQs

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