What happens when a Taxable Person transfers their entire Business or an independent part of their Business to another Person who is a Taxable Person or will become a Taxable Person as a result of the transfer in exchange for shares or other ownership interests of the transferee?
In such a case, the Taxable Person will transfer their entire Business or a part of it to another Person who is either already a Taxable Person or will become a Taxable Person as a result of the transfer. The transfer will be made in exchange for shares or other ownership interests of the Taxable Person that is the transferee.