Bringing assets into a business
Topics
- Fair market value
Definition of fair market value and its implications on transferring personal assets to your business. - Buying an existing business
Effect of buying an existing business on how to account for the purchase of the business assets for income tax purposes.
In addition to tax implications, there may be goods and services tax / harmonized sales tax (GST/HST) implications when you transfer assets from one business to another. For more information on the GST/HST implications in particular situations, call the Canada Revenue Agency at 1-800-959-5525.
Multimedia
- Video series: Business video gallery