Alberta Section 85 Rollover Package for Assets
Prepare a Section 85 Rollover Agreement (assets for shares) with this downloadable package of forms for Alberta corporations.
- The vendor sells the assets to the purchaser in exchange for voting shares in the capital stock of the purchaser.
- The purchase price for the assets will be equal to the fair market value of the assets at the effective date of the agreement.
- The parties will file a joint election under s. 85 of the Income Tax Act (Canada).
- The amounts will be adjusted accordingly if any taxing authority determines that the FMV is different from that determined by the agreement, retroactive to the effective date.
- The package includes:
- Asset Purchase Agreement,
- Schedule of Assets with breakdown of elected amount limits and consideration received,
- Promissory Note.
- This legal form is available as a downloadable MS Word document.
- Intended for use in the Province of Alberta, Canada.
Last Updated: 02-May-2021