Problem:
Mrs. Claussell, age 49, is the majority shareholder and CEO of Thors Inc., a CCPC selling beauty products. Mrs. Clausell currently owns 10,000 shares of Thors Inc., representing 100% of outstanding shares. She purchased these shares from her father in 2019 after her father, who had owned all Thors Inc. shares since its inception in 2014, retired. Mrs. Clausell has two daughters, Emma and Laura, ages 14 and 22 respectively. She also has a son, Elliot, age 26. Laura is currently finishing up a university degree in engineering, and Elliot is starting a PhD in marketing. Neither of them have shown any interest in the family business. All of her children have $0 of taxable income currently in 2020. Today is December 1st, 2020. Mrs. Clausell has come to your office to seek some tax advice. For the remainder of the month, she plans to make some changes to Thors' share ownership, as follows: (1) Mrs. Clausell received an offer from a third party to purchase 10% of her shares for $100,000. The ACB of the shares are $20,000. Mrs. Clausell plans to sell the shares to the third party on December 5th. (2) On December 20th, Mrs. Clausell plans