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How do you transfer shares to your children? What are the tax consequences?Under Section 56(2) of the Income Tax Act, the recipient is liable to be taxed for gifts of movable property, such as shares, ETFs, mutual funds, jewellery. A gift to an individual is a Potentially Exempt Transfer (PET) with no upfront IHT charge. Gifts into trust are chargeable, but no IHT will. Stocks, bonds, and other securities can be transferred as gifts while benefiting the giver. There are tax and other issues to consider.
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