Ms. Daniels owns all of the outstanding shares of Daniels Inc., a CCPC. The shares have a PUC of $390,000 and an adjusted cost base of $545,000. Because it has recently consolidated its operations, Daniels Inc. pays a liquidating dividend of $299,000, accompanied by a PUC reduction of $217,000.
What are the tax consequences of this distribution to Ms. Daniels?

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The Answer of Ms. Daniels owns all of the outstanding shares of Daniels Inc., a CCPC. The shares have a PUC of $390,000 and an adjusted cost base of $545,000. Because it has recently consolidated its operations, Daniels Inc. pays a liquidating dividend of $299,000, accompanied by a PUC reduction of $217,000.
What are the tax consequences of this distribution to Ms. Daniels?

Ms Daniels Owns All of the Outstanding Shares of Daniels