Docs

section-85-1

Filemark T2 rollover and reorganization preview

Kind
rollover
Supported tax years
—
Strict profile
rollover_preview_exact_v1
Payload schema version
7.0.0

Example request

Send this body to POST /api/v1/computations/rollovers/section-85-1. It satisfies the strict profile, so it works with or without the payloadContract selector.

{
  "inputs": {
    "exchanged_shares": {
      "acb": 80000,
      "fmv": 150000,
      "isCapitalProperty": true,
      "isTaxableCanadianProperty": false
    },
    "purchaser_shares": {
      "fmv": 150000,
      "pucOfExchangedShares": 100000,
      "purchaserIssuedTreasuryShares": true,
      "issuedToCourtApprovedPlanTrust": false,
      "exchangedSharesTradeOnDesignatedStockExchange": false,
      "purchaserSharesWidelyTradedOnDesignatedStockExchange": false,
      "issuedShareClasses": [
        {
          "label": "Cedar Ridge Holdings common",
          "pucIncrease": 150000
        }
      ]
    },
    "consideration": {
      "bootFmv": 0,
      "sharesOfMoreThanOneClass": false
    },
    "party": {
      "dealsAtArmsLength": true,
      "nonArmsLengthSolelyFromPurchaserRightToAcquireExchangedShares": false,
      "vendorControlsPurchaserAfter": false,
      "vendorOwnsMoreThan50PctFmvOfPurchaserAfter": false,
      "s85ElectionFiled": false,
      "vendorElectsOut": false,
      "purchaserIsCanadianCorporation": true,
      "acquiredCorporationIsTaxableCanadianCorporation": true,
      "vendorIsForeignAffiliateOfCanadianResident": false,
      "gainIncludedInVendorFAPI": null
    }
  }
}

Input cells (24)

Paths are relative to the request’s inputs object; [] marks an array element.

Required says when a cell must be present. Always means every request needs it: the default boundary rejects the call when the cell is omitted or null. Strict means only a request that sends this target’s payloadContract selector needs it. See Run computations for the default boundary.

These cells are everything this target accepts. A member that is not published here, or is sent with the wrong JSON type, fails the call with a 400 naming each failing cell.

Input cells for section-85-1
CellTypesRequired
consideration.bootFmvnumberstrict
consideration.sharesOfMoreThanOneClassSecond s.85.1(2)(d) limb: the vendor received shares of more than one class of the purchaser; unanswered blocks.booleanstrict
exchanged_shares.acbnumberstrict
exchanged_shares.fmvnumberstrict
exchanged_shares.isCapitalPropertys.85.1(1) opening words require the exchanged shares to be capital property; inventory shares are on income account under s.9.booleanalways
exchanged_shares.isTaxableCanadianPropertyboolean | nullstrict
party.acquiredCorporationIsTaxableCanadianCorporationboolean | nullstrict
party.dealsAtArmsLengths.85.1(2)(a): the vendor and purchaser dealt at arm's length immediately before the exchange; silence is not an assertion and blocks.booleanstrict
party.gainIncludedInVendorFAPIboolean | nullstrict
party.nonArmsLengthSolelyFromPurchaserRightToAcquireExchangedSharesThe s.85.1(2)(a) parenthetical relief: the only non-arm's-length cause is a s.251(5)(b) right of the purchaser to acquire the exchanged shares; absent means off.booleanstrict
party.purchaserIsCanadianCorporationboolean | nullstrict
party.s85ElectionFileds.85.1(2)(c): the parties filed an s.85(1) or 85(2) election for the exchanged shares, which ousts s.85.1; unanswered blocks.booleanstrict
party.vendorControlsPurchaserAfters.85.1(2)(b)(i): the vendor, alone or with non-arm's-length persons, controlled the purchaser immediately after the exchange; unanswered blocks.booleanstrict
party.vendorElectsOutThe vendor reports the gain in its return, failing the s.85.1(1)(a) condition; the exchange then runs without the rollover deeming.booleanstrict
party.vendorIsForeignAffiliateOfCanadianResidentboolean | nullstrict
party.vendorOwnsMoreThan50PctFmvOfPurchaserAfterboolean | nullstrict
purchaser_shares.exchangedSharesTradeOnDesignatedStockExchanges.85.1(2.2) condition: the exchanged shares trade on a designated stock exchange; the deeming needs all three of its conditions.booleanstrict
purchaser_shares.fmvnumberstrict
purchaser_shares.issuedShareClasses[].labelstringstrict
purchaser_shares.issuedShareClasses[].pucIncreasenumberstrict
purchaser_shares.issuedToCourtApprovedPlanTrusts.85.1(2.2) condition: the purchaser shares were issued to a trust under a court-approved plan of arrangement; the deeming needs all three of its conditions.booleanstrict
purchaser_shares.pucOfExchangedSharesnumberstrict
purchaser_shares.purchaserIssuedTreasurySharesboolean | nullstrict
purchaser_shares.purchaserSharesWidelyTradedOnDesignatedStockExchanges.85.1(2.2) condition: the purchaser shares are widely traded on a designated stock exchange; the deeming needs all three of its conditions.booleanstrict
Strict profile accepted values (7 of 24 cells)

These values apply only when the request sends this target’s payloadContract selector. A cell marked pinned must equal the value shown to satisfy the strict profile. On the default boundary the same cell accepts any value of its published type.

Strict profile accepted values for section-85-1
CellAccepted values
consideration.bootFmv0 to 600000000000
exchanged_shares.acb0 to 600000000000
exchanged_shares.fmv0 to 600000000000
purchaser_shares.fmv0 to 600000000000
purchaser_shares.issuedShareClasses[].label1 to 2000 characters
purchaser_shares.issuedShareClasses[].pucIncrease0 to 600000000000
purchaser_shares.pucOfExchangedShares0 to 600000000000

Output cells (47)

Paths are relative to this target’s result object in the response.

Output cells for section-85-1
CellTypes
appliesboolean
exchangedShares.acbnumber
exchangedShares.fmvnumber
exchangedShares.pucOfExchangedSharesnumber
exchangedShares.proceedsOfDispositionnumber
vendorNewShareAcbnull | number
purchaserCostOfAcquiredSharesnull | number
purchaserCostBasisnull | string
gainIfTaintednull | number
gainRealizednull | number
dispositionCharacternull | string
incomeAccountProfitnull | number
boot.fmvnumber
sharesOfMoreThanOneClassboolean
rolloverDeferredboolean
pucReduction.statusstring
pucReduction.totalIncreaseInPucnull | number
pucReduction.pucOfExchangedSharesReceivednumber
pucReduction.totalReductionnull | number
pucReduction.byClass[].labelstring
pucReduction.byClass[].pucIncreasenumber
pucReduction.byClass[].pucReductionnumber
pucReduction.byClass[].pucAfterReductionnumber
purchaserSharesAreDeemedTcpboolean | null
purchaserSharesDeemedTcpWindowMonthsinteger | null
traps[].findingCodestring
traps[].filingDispositionstring
traps[].citationKeystring
traps[].severitystring
traps[].titlestring
traps[].bodystring
warnings[]string
warnings[].codestring
warnings[].findingCodestring
warnings[].filingDispositionstring
warnings[].messagestring
warnings[].severitystring
blockingboolean
readyboolean
provisionalboolean
citationsApplied[]string
citations[].keystring
citations[].sectionstring
citations[].descriptionstring
citations[].source_urlstring
citations[].verified_atstring
electionInvalidboolean
Filemark | section-85-1 cells