taxation

alex has opened a business in the consulting sector. jan 1 he purchased assets: land 100,000 building 125,000 office equipment 25,000. end of year revenue is 250,000 and expenses 175,000. calculate taxable income. assume that assets do not include amortization or CCA. complete a UCC/CCA schedule similar to T2 schedule 8. next year alex is incorporating the business called 51 inc.authorize shares: unl class A C/S and unl class A P/S [email protected]. ales subsribes to 100 C/S for 100. business year end dec 31.Ensure FMV of assets land 125,000 building 135,000 office equip 23,000 goodwill 17,000. complete a transfer similar to page 3 of T 2057. he got married and decided to freeze the value of the corporation and have the spouse share 50% from future grouth. alex wants full voting control, fmv of corporation 1 mil. he adds unlimited N/V class B C/S at 1/share and unl N/V class B P/S redeemable for 1/share. do an organizational chart before and after. next year spouse dad passed away. she gets 100 C/S of dad's consulting business with ABC 1 and PUC 1. business is worth nil and has a large non-capital losses carried forward. they want to use the loss for their business and also change the name from 51 inc to A&S. do an organizational chart with of the corporate group before and after and mention when tax filling are due. if any transaction are to occur will be jan 1 next year. end result should be like the part with freezing with the addition of 1 share.