Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
Clients often engage professional accountants to assist with transactions designed to accomplish objectives such as creditor proofing, estate planning, and corporate restructuring. These transactions require that practitioners possess comprehensive knowledge of Section 85 in the Income Tax Act in order to meet the client’s objectives in a tax-efficient manner. Section 85 interacts with several related and anti-avoidance provisions that professionals should understand in relation to these engagements.
In order to help practitioners and other tax professionals assist clients and others with property transfer engagements, this seminar covers selected tax aspects explaining the transfer of property to a corporation using the Section 85 rollover rules. Each module contains specific examples and cases designed to help participants review relevant tax theory and focus on major tax planning issues, including filing requirements and ensuring the transaction is not caught by key anti-avoidance provisions. The course does not cover the accounting treatment of the transfer of property pursuant to a Section 85 election.
Topics Include:
- The purpose and use of Section 85 of the ITA.
- Conditions of application.
- Agreed amount: election and limits.
- Cost of consideration and other rules.
- Paid-up capital and legal characteristics of shares received.
- Anti-avoidance rules and other considerations.
- Election deadline and penalties.
NOTE: No updates or changes were made to the 2026 version of this course. If you completed the course in 2025, please be advised the 2026 course material has not changed. If you have any questions, please contact pdevents@cpaontario.ca.
Schedule
- November 24, 2026, 8:30 a.m. - 12:30 p.m.
- November 25, 2026, 8:30 a.m. - 12:30 p.m.
Key Takeaways
By the end of this course, participants will be able to:
- Identify the conditions necessary to make a Section 85 election and the property eligible to transfer under Section 85.
- Apply the upper and lower limits of an “agreed amount” for the transfer or property.
- Determine the cost amount of property transferred under Section 85.
- Compare and contrast the requirements of and circumstances when Section 85 would be used instead of Section 85.1.
- Be aware of the relevant anti avoidance rules associated with a transfer of property under Section 85.
- Complete a T2057 election form and be aware of the deadlines for filing a Section 85 election and related penalties.
Who Will Benefit
Tax professionals and practitioners who seek improved knowledge about Section 85 and the process for correctly preparing and filing a T2057 election.
Prerequisite(s)
- Participants should be familiar with the ITA.
- Participants in this seminar may also benefit from Corporate Restructuring: Fundamentals, Advanced Tax Planning Strategies and Corporate Restructuring: Application for Private Corporations.
How to Access the Course
This course is delivered as a live webinar. To receive verifiable CPD hours, you must attend the session live. We recommend joining at least 5 minutes before the scheduled start time. For the best interactive experience, please use a computer equipped with a camera and microphone.
A reminder email with the Zoom link and course details will be sent two business days before the session. If you do not receive it, please check your spam or junk folder.
The same information, including any available materials, will also be posted in advance on our Blackboard LMS.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Kris Himberg-Larsen is a partner at Wilkinson and Company LLP, received his CA in 2003 and completed the In-Depth Tax Course in 2006. Kris handles complex tax issues involving corporate reorganizations, and tax and succession planning. He mentors staff in house and has been an instructor for the CPAO for ongoing PD courses and at the School of Accountancy.