Alberta Section 85 Purchase Agreement for Common Shares

Prepare a section 85 Share Purchase Agreement (value stated) with this rollover document package for the Province of Alberta.

• The vendor sells the subject shares to the purchaser in exchange for shares in the capital stock of the purchaser, pursuant to Section 85 of the Income Tax Act (Canada).
• The shares being issued have an aggregate redemption value equal to the fair market value of the vendor shares, with any shortfall in value covered by a promissory note for the balance.
• The parties agree to make such amendments as may be required by any CRA determination that the amounts or values differ from those stated in the agreement, amendments to be retroactive to the effective date.
• The package includes:
  • Share Purchase Agreement,
  • Schedule of Assets with breakdown of elected amount limits and consideration received,
  • Demand Promissory Note form.
• Intended for use in the Province of Alberta, Canada.