Q: " It was a taxable spin off, but the deemed value was essentially zero. T3s are not always given in these scenarios. The cost base of TOI shares was determined to be less than 1 cent per share."
So, the deemed value of taxable spin off being essentially Zero, it's not required to be reported for Taxable Income in any form, for 2021 tax year - Is this the correct understanding ?
What should the ACB of the spin off shares used, when sold - Zero - For Capital Gain purposes ?
Thank You
So, the deemed value of taxable spin off being essentially Zero, it's not required to be reported for Taxable Income in any form, for 2021 tax year - Is this the correct understanding ?
What should the ACB of the spin off shares used, when sold - Zero - For Capital Gain purposes ?
Thank You