Your business. Your legacy.
You've worked hard to ensure the success of your family’s business—and you want to keep it in your family’s hands. Bill C-208 intends to equalize the income tax treatment between selling a business to a third party and an intergenerational transfer to a family member. Bill C-208 is in effect—but it’s crucial to stay informed and understand your options as new legislation is on the horizon.
A consultation period—held to gain insight from stakeholders on amendments to strengthen the rules and maintain the integrity of the tax system—ended on June 17, 2022. The results are unknown but stay tuned for updates.
Your business is your legacy—and it deserves to stay in your family.