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Corporate & business
An affidavit submitted to the Canada Revenue Agency in support of transferring shares of a small business corporation to your children or grandchildren under the relevant provisions of the Income Tax Act.
Also known as
CRA Affidavit for Small Business or Corporate Share Transfer
I, ______, residing in the city of ______, in the province of ______, SWEAR UNDER OATH AND STATE:
I reside at ______.
I was a shareholder of ______ BN: ______, which is either a qualified small business corporation, family farm or fishing corporation within the meaning of subsection 110.6(1) of the Income Tax Act, R.S.C. 1985, c. 1 (5th Supp).
On ______, my shares in the above-mentioned entity (the subject shares) were acquired by a corporation, named ______ BN: ______, which is controlled by one or more of my children or grandchildren, who are 18 years of age or older.
The above mentioned children or grandchildren that control said corporation are the following:
Full Name: ______
Relationship to Affiant: ______
SIN#: ______
Supplementary Details
Child/Grandchild Name: ______
Child/Grandchild SIN: ______
Social Insurance Number: ______
Child/Grandchild Name: ______
Child/Grandchild SIN: ______
Child/Grandchild Name: ______
Child/Grandchild SIN: ______
Child/Grandchild Name: ______
Child/Grandchild SIN: ______
How it works
Answer the questions on the left. Your document builds itself on the right as you type.
Get a clean, ready-to-sign PDF in seconds. No account, no watermark.
Book an appointment, bring your document, and we witness your signature and apply the seal.
This is a sworn statement filed with the Canada Revenue Agency to confirm that a transfer of shares in a qualified small business corporation (QSBC) to your adult children or grandchildren meets the conditions for capital gains treatment. Without this affidavit, section 84.1 of the Income Tax Act can deem the proceeds a dividend, resulting in a significantly higher tax bill for the transferor.
The affidavit forms part of the documentation for an intergenerational business transfer, a pathway created by Bill C-208 (2021) and refined by Bill C-59 (2024). It attests that the statutory conditions are satisfied so that CRA will accept the transfer as a genuine sale rather than a surplus stripping arrangement.
Any individual transferring QSBC shares to an adult child or grandchild (age 18 or older) who wants capital gains treatment on the transaction. Your accountant or tax lawyer will confirm whether your specific transfer qualifies under the intergenerational rules.
The form collects all the details CRA needs to verify the transfer's eligibility. Your accountant typically prepares the content; you bring the completed draft to the notary for swearing.
This is a tax planning document, and the notary's role is limited. We verify your identity, administer the oath or affirmation, watch you sign, and affix the jurat and seal. We do not review whether the transfer actually qualifies under the Income Tax Act.
Virtual commissioning is available under Ontario Regulation 431/20. Both you and the notary must be physically in Ontario during the session, and the notary must be able to verify your ID and watch you sign on camera.
Come prepared so the swearing goes smoothly. If anything is missing, the appointment may need to be rescheduled.
After the notary completes the jurat, the sworn original goes to your accountant for filing with CRA alongside the relevant T1 or T2 return for the tax year in which the share transfer occurred. Keep a copy for your own records. Notarization is $19.90 per stamp.
This affidavit is one piece of a larger transaction coordinated by your accountant or tax lawyer. Do not swear it until your adviser has confirmed that the transfer qualifies. Swearing a false affidavit is perjury under sections 131 to 134 of the Criminal Code of Canada, carrying up to 14 years' imprisonment. CRA can also reassess the transaction and impose penalties if the statutory conditions were not actually met.
Frequently asked
Fill it in online, download a ready-to-sign PDF, then bring it in and we will notarize it, in person across Ottawa or online.