Selling the farm

[Rob.Strilchuk]

Selling shares purification ?

Sounds like your doing more scamming than Farming !

No scamming, just following the rules available to anyone that is using a corp. A purification now is effectively dealing with what you did not take out of the company and pay personal tax on previously.

[AlbertaFarmer5]

Interesting and relevant topic.
I have a neighbor who is at or well past retirement age, but can't/won't sell land because he is mad at an accountant who put all of his land into a corporation, and now he can't get it out to sell without the big tax bill. We are also incorporated, with the bare minimum amount of land inside the corp, just enough to cover the debt and then whatever we have bought since then, and would jump at the chance to buy some of his land. I am fine with putting additional new land into the corp, to make the principle payments with after tax dollars at corporate rates rather than personal. Personal capital gains would be far exceeded anyways, so that is not a valid reason to keep new land out.

I've been wondering if buying their shares would be in any way advantageous to his tax situation. This thread makes it sound like it would be. How is that advantageous? Is it pursuing this with a good accountant, or would it be a zero sum game at the end?

[shtferbrains]

They already spent what you do send.

[fjlip]

They already spent what you do send.

what you and every Canadian WILL SEND as long as we live.