Q: Further to Mark's question regarding the spin-off of Dow and Corteva, there is definitely a way to set this aside for this taxation year, and ultimately have it as a capital loss/gain. The CRA calls it Election 86.1, and I've included the link here to CRA's website, where they show that they have approved an 86.1 election for both companies mentioned.
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/eligible-spin-offs.html
if you do your own taxes, google "86.1 procedures" or something similar to that, and you'll find all the necessary instructions. i've done it myself for the HP spin-off, and essentially, you include a letter with your taxes (or re-file if you've already submitted your taxes) and state that you are exercising this election, and thus will not be including that specific T5 with your tax return this year. And then keep that letter, in case when you eventually sell, if you ever have an issue.
But to this point, when a US stock gets close to a spin-off (in a non-registered account) I always sell, to avoid this hassle. And it is a hassle.
Hope this helps...
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/eligible-spin-offs.html
if you do your own taxes, google "86.1 procedures" or something similar to that, and you'll find all the necessary instructions. i've done it myself for the HP spin-off, and essentially, you include a letter with your taxes (or re-file if you've already submitted your taxes) and state that you are exercising this election, and thus will not be including that specific T5 with your tax return this year. And then keep that letter, in case when you eventually sell, if you ever have an issue.
But to this point, when a US stock gets close to a spin-off (in a non-registered account) I always sell, to avoid this hassle. And it is a hassle.
Hope this helps...
