When assets are transferred to a corporation using ITA 85, the transferor can take back as consideration a combination of common shares, preferred shares, and non-share consideration. Briefly explain how the total adjusted cost base of the consideration received would be determined, and how it would be allocated to each type of consideration received by the transferor.

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The Answer of When assets are transferred to a corporation using ITA 85, the transferor can take back as consideration a combination of common shares, preferred shares, and non-share consideration. Briefly explain how the total adjusted cost base of the consideration received would be determined, and how it would be allocated to each type of consideration received by the transferor.

When Assets Are Transferred to a Corporation Using ITA 85