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the third buy sell arrangement that were going to look at is the share Redemption agreement its probably the most complicated of the three that we look at in detail and there are some provisions of the Income Tax Act here that are not always readily apparent once again were going to have the insurance owned corporately now Jill dies death benefit is paid to the corporation we may or may not have a capital dividend account applied in this case its useful to have it but a share Redemption agreement can work without the capital dividend account as weve seen previously when Jill dies section 70 of the income tax act calls for a deemed disposition of her shares so her turn the tax return will show a $1,000,000 capital gain which may or may not be offset by the lifetime capital gains exemption we do not have to have the lifetime capital gains exemption available to get tax efficiency out of the share redemption agreement if we have it great if we dont have it it still works so now Jil
