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Canadian Tax Sales / Sell property to my own corporation - tax implication
« on: March 05, 2008, 01:45:57 AM »
Hello all,
I need help.
I own a corporation. I am about to move from my condo to another bigger house. Since I will like to expand my business, I will like to sell this condo to my corporation so that my corporation can rent it out.
First. Is this legal?
Second, Is there any tax implication to me personally?
Thanks all in advance
Ajasco
I need help.
I own a corporation. I am about to move from my condo to another bigger house. Since I will like to expand my business, I will like to sell this condo to my corporation so that my corporation can rent it out.
First. Is this legal?
Second, Is there any tax implication to me personally?
Thanks all in advance
Ajasco