News and Insights

Saskatchewan Revises Bulletin on Business Asset Transfers

Tax Development Dec 03, 2015

Saskatchewan’s Ministry of Finance has updated Bulletin PST 60, “Information on Transfers of Business Assets between Closely Related Parties”, to add clarification on various topics, including asset valuation, documentary requirements, joint ventures, limited partnerships, and trusts.

The revised document also contains information on the treatment of asset transfers that occur between parent corporations and wholly-owned subsidiaries, as well as transfers to new companies that may or may not be wholly-owned. Amalgamations, partnerships, wind-ups, dividends, and the return of capital are also discussed in detail.