My question is: Canadian-specific
QUESTION: I own a Real Estate Development Company and have transferred a
home I built from the company to my personal name. I rented the house from
the company for one year and then had it appraised and transferred at the
appraised value. No money however changed hands. I assumed that the equity
in the house would be treated as taxable income and I would pay taxes based
on this. Does this work or does money actually have to change hands?
