The IP was the software I had created (web app + marketing websites), and bundled in with that was the customer list. Basically any intangibles.
In Canada it was done through a Section 85 election and there was some corresponding paperwork (T2057 + T2 tax return) But I needed to involve an accountant and a tax lawyer to make sure that the new company was structured properly to take advantage of the lifetime capital gains exemption, plus the lawyer's time to help me get specific wording in the sale contract to make sure I qualified for the exemption.
Cost wise it was probably an extra 15-20 hours of professional time.
Feel free to contact me directly (email in profile) if you want more details.
In Canada it was done through a Section 85 election and there was some corresponding paperwork (T2057 + T2 tax return) But I needed to involve an accountant and a tax lawyer to make sure that the new company was structured properly to take advantage of the lifetime capital gains exemption, plus the lawyer's time to help me get specific wording in the sale contract to make sure I qualified for the exemption.
Cost wise it was probably an extra 15-20 hours of professional time.
Feel free to contact me directly (email in profile) if you want more details.