Hi All,
We have bought company A and intergrated them into our company. For some reason company A kept their office and now they are in the process of getting the lease contract transferred to us.
For some reason, it is suggested to transfer leasehold improvements and office furniture from company A to us prior to transfer of the lease.
I am not sure if this will be tax efficient with respect of LHI - whether we will be able to start depreciating/amortizating this asset without getting the office lease first. Pretty sure we can't do this (I think).
Thanks