Which of the following would not be considered part of the boot received by a transferor in an ITA 85(1) rollover?
A)Debt securities of the transferee.
B)Redeemable preferred shares of the transferee.
C)The assumption of transferor debt by the transferee.
D)Cash.

Question

Quizplus · Accepted Answer

Redeemable preferred shares of the transferee are considered shares and not boot in an ITA 85(1) rollover, as boot typically refers to non-share consideration like cash, debt securities, or assumption of debt.

Which of the Following Would Not Be Considered Part of the Boot