This module provides a deep dive into Section 160 of the Income Tax Act, which holds recipients of transferred property jointly liable for a transferor’s unpaid tax debts if the parties are not dealing at arm’s length. The module uses a family-focused lens to show how common transactions—such as gifting property to a spouse, child, or related trust—can trigger liability even when the recip...
This module provides a deep dive into Section 160 of the Income Tax Act, which holds recipients of transferred property jointly liable for a transferor’s unpaid tax debts if the parties are not dealing at arm’s length. The module uses a family-focused lens to show how common transactions—such as gifting property to a spouse, child, or related trust—can trigger liability even when the recipient was unaware of the tax issues. Learners will explore the CRA’s audit practices, calculation of liability, and key defences available to transferees, helping them prevent costly mistakes in both planning and post-transfer scenarios.
Unlock this course and 50+ more today with our all-in-one plan.