Describe and calculate the federal income tax

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Alex is a 65 year-old resident of Canada who is considering doing an estate freeze.

Additional information about your client is provided in the Exhibit.

describe and calculate the federal income tax consequences to your client from the proposed estate freeze.

Make sure you describe all the income tax consequences to both Alex and to Newco and show your calculations.

You should give Income Tax Act(ITA)section, subsection and paragraph (where applicable) references in order to support your answer.Do not list multiple ITA references.You do not need to suggest any improvements to the proposed estate freeze at this time and you can ignore Division E.1 of the ITA (Minimum tax).

Reference no: EM131156775

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