Vol. 18, Issue 5, September-October 2021

Filing a Joint Election for Spousal Rollover due to Marriage Breakdown

It is understandable that a marriage breakdown can be a traumatic experience for clients. To assist clients navigate this emotional process, family lawyers, corporate and tax lawyers need to work together when a separating spouse owns shares in a company incorporated for the business of the other separating spouse.

This article will look at the Income Tax Act’s (the “Act”) deeming rules surrounding dispositions of property (such as common shares in the company) held by a separating spouse to the other separating spouse, the application of an available exception and how to file a joint election for such an exception.

The full publication is accessible here:

https://v3.taxnetpro.com/Document/Icfe53758d0a133fee0540010e03eefe0/View/FullText.html?transitionType=Default&contextData=(sc.Default)&VR=3.0&RS=cblt1.0



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