SECTION 85 ROLLOVERS
At Jahanshahi Law Firm, we offer comprehensive legal solutions for the transfer of assets between business entities. Focused on achieving tax efficiency in business restructuring and asset transfers, our approach is designed to align with your tax and business objectives.
What is a Section 85 Rollover?
A Section 85 rollover is a key provision in the Canadian Income Tax Act that enables the tax-deferred transfer of eligible property to a corporation. This provision is a strategic tool for business owners, real estate investors, and individuals, allowing the transfer of assets or shareholdings to other business entities without immediate tax implications. Section 85 rollovers are particularly valuable during business reorganizations, estate planning, transferring personal assets into a corporate structure or transferring shares from an individual to a holding company. Typically, The suggestion to engage in a Section 85 rollover for the purpose of transferring assets from one business entity to another often originates from a professional advisor, such as an accountant, lawyer, or financial planner.
The Process in a Section 85 Rollover
Our approach to a Section 85 rollover involves:
- Consultation and Assessment: We start with a detailed analysis of your assets and business structure to determine the suitability and potential benefits of a Section 85 rollover.
- Coordination with Accountant(s): We work closely with your accountant to ensure that that the transfer of assets is done correctly and in a manner that is most efficient from a tax perspective.
- Strategic Planning: We develop a tailored strategy that aligns with your specific business goals and tax planning objectives.
- Preparation and Execution: Our team assists in preparing and filing all necessary documentation, including the election form T2057, and guides you through the entire process.
- Continued Advisory: Jahanshahi Law Firm provides continuous support and advice to clients engaged in Section 85 Rollovers as the various stages of their matter unfolds.
Why Choose Jahanshahi Law Firm?
Expertise and Experience: With a wealth of specialized experience in business, real estate, and estate law, our firm is uniquely equipped to handle complex Section 85 rollovers.
Personalized Service: We understand that each client’s situation is unique. Our approach is always tailored to meet your specific needs and objectives.
Comprehensive Support: From initial consultation to post-transaction follow-up, we ensure that every aspect of your rollover is handled with utmost care and professionalism.
Commitment to Client Success: At Jahanshahi Law Firm, your success is our priority. We are dedicated to providing solutions that not only meet your current needs but also support your future business aspirations.
Get in Touch
To learn more about how a Section 85 rollover can benefit you and your business, contact Jahanshahi Law Firm today for a personalized consultation.