My client is selling his business using transfer the shares to the new owner, how will the sale procedse treated, is it a profite for the soled company and will be taxed, of will not be part of the sold company’s income, please help in figer out.
If any one can discuss the case over the phone will be highly appreciated
thank you
Depends on several factors, such as whether the shares qualify for the LCGE per ITA 110.6. Best to engage an accountant (i.e. in person), and be prepared to pay for such advice.