On Friday, November 4, 2016, Greg Gartner will be leading a seminar for CPA Saskatchewan Professional Development.
The capital gains deduction and farm property “rollover” rules in the Income Tax Act are straightforward in concept, however, in practice can be anything but. Changing CRA administrative policy, lack of direction from the Tax Courts, and applicable legislation all contribute to the complexity of the area. By the end of this full day seminar, participants should be able to apply their knowledge to the majority of fact patterns that present themselves from transfers and sales of farm property in estate plans and to third parties.
- The capital gains deduction in detail. What is this “gross revenue test”?
- Capital gains deduction vs. rollovers for real property: what are the differences?
- Real property/eligible capital property, interest in a family farm partnership, and shares in family farm corporation. The use of property in different entities.
- Charting your client: using flowcharts to steer your decisions.
- Review of the critical CRA technical interpretations and tax court cases to be aware of.
- Practical, real life examples of the “quirks” in the rules and how they affect your client.
Date: November 4, 2016
Time: 8:30 a.m. – 4:30 p.m. CDT
Seminar code: 2610R
To register, click here.