I7.160 BPR and binding contracts for sale
Business property subject to a binding contract for sale is not relevant business property unless:
- Ìý
•ÌýÌýÌýÌý the property is a business or an interest in a business and the sale is to a company which is to carry on the business, and the consideration consisted mainly of shares in or securities of that company1, or
- Ìý
•ÌýÌýÌýÌý the property is shares in or securities of a company and the sale is made for the purpose of the reconstruction or amalgamation of the company
This provision is a safeguard for the taxpayer who is incorporating or reconstructing
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Web page updated on 17 Mar 2025 14:37