TSX:LSG.DB - Post by User
Comment by
HopToadon Sep 22, 2015 8:14pm
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Post# 24126918
RE:TME capital gains taxes on LSG takeover
RE:TME capital gains taxes on LSG takeoverI have been through two or three takeovers and I did not recognize a capital gain. I treated the cost of the shares to be rolled over to become the cost of the shares of the acquirer...... That said, I understand that there may be an option to recognize a capital gain, instead. A person might do this to eat up capital losses..... Or a person may be in an unusually low tax bracket this year, and prefer to have the gain taxed at the favourable low rates..... The tax treatment of the rolled over shares should have been spelled out in the takeover circular..... In any event, it would be good to get advice from a qualified tax consultant, who would sort out what is allowed, and recommend a strategy.