Alberta Section 85 Rollover Agreement for Newco Shares

Exchange common shares held by a shareholder for shares in a new company with this easy Section 85 Rollover Agreement for Alberta corporations.

• The parties will file a joint election under s. 85 of the Income Tax Act (Canada).
• The purchase price for the existing common shares will be equal to the fair market value of the shares at the effective date of the agreement.
• 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 agreement includes a Schedule of Assets with breakdown of elected amount limits and consideration received.
• This legal form is available as a downloadable MS Word document.
• Intended for use in the Province of Alberta, Canada.