SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Canadian Investment Resource Guide
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: TFF who started this subject6/26/2001 12:51:54 PM
From: Gord Wilson   of 591
 
Foreign Spin-offs

I just learned of this proposed change to the tax act. Googling for Revenue Canada and Spin-off should get you a link.

It is proposed that the Income Tax Act be amended, effective for distributions received after 1997, to allow a tax deferral, on an elective basis, in respect of certain distributions by foreign corporations of spin-off shares to Canadian resident shareholders. Applying the change for distributions after 1997 takes into account the three-year reassessment period when year 2000 is accounted for. In general terms, to be eligible the distribution to a Canadian resident must be made by a widely held and actively traded U.S. public corporation, of shares only. Further, the U.S. tax law must provide tax-deferred treatment to the distributing corporation and its U.S. resident shareholders.

P.S. If you could call your local member of parliament and get them to change it to include 1997 as well I'd be grateful :).
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News