There are certain procedures available that allow the
transfer of various types of property on a tax defered basis. For example,
the Income Tax Act (of Canada) allows an individual to “roll”
certain types of property to a spouse in certain circumstances. There
is also a method of transferring the possible future wealth of a corporation
to another individual (commonly referred to as an “estate freeze”)
without incurring tax consequences. It is suggested that an individual
contact a tax specialist in order to review the various options that
may be available in their own circumstances.
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The general opinions expressed herein are for information
purposes only and are not to be relied on. Individuals are encouraged
to seek legal advice as it relates to their specific fact scenario to
ensure they are fully aware of their legal rights and obligations.
