Information about selling a business including closing accounts, restrictive covenants, inventory valuation, change of ownership. This title contains nearly 200 forms and precedents on equipment leasing and the sale and operation of a business.If you're selling a business in Canada, this Bill of Sale form is essential to transfer ownership of the assets to the buyer. Transfer and Assumption, 1. Section 167 of the Excise Tax Act (the Act) contains provisions for two elections that apply to the sale of a business and its assets. Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. Negotiate the purchase of a Canadian business with this Letter of Intent to Purchase Assets of Business template for Canada. Buying or selling a business? Answer a few simple questions to create your own Business Purchase Agreement.