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Toronto Branch Presents: STEP Value Passport open to STEP Canada Members only Date Topic and Speaker September 13, 2010, November 10, 2010, December 9, 2010, February 2, 2011, March 3, 2011, April
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What is step value passport?
Step value passport is a document used to report the value of assets transferred or gifted during a person's lifetime.
Who is required to file step value passport?
Individuals who have transferred or gifted assets with a value over a certain threshold are required to file a step value passport.
How to fill out step value passport?
To fill out a step value passport, one must provide details of the assets transferred, their value, and any relevant dates.
What is the purpose of step value passport?
The purpose of a step value passport is to ensure that taxes are properly calculated and paid on assets that have been transferred or gifted.
What information must be reported on step value passport?
Information such as the description of the asset, its value, the date of transfer or gift, and the relationship between the transferor and the recipient must be reported on a step value passport.
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