If an Asset Is Transferred in an ITA 85 Rollover

question 76

True/False

If an asset is transferred in an ITA 85 rollover at an elected value that results in a capital gain to the transferor, the cost to the transferee for CCA purposes will be the transferor's cost, plus one-half of the excess of the elected value over the transferor's cost.

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Definitions:

Slobs

Informal term for individuals who are perceived as being messy, disorganized, and lacking concern for cleanliness.

Temperament Characteristics

Inherent traits that determine an individual's emotional responses and behavioral patterns.

"Easy" Babies

Infants who have a calm temperament, adapt easily to routines and situations, and generally respond well to caregiving.

Labor-Intensiveness

The characteristic of requiring a high amount of manual labor input relative to other inputs like machinery or capital.