Bill C-208 received Royal Assent and came into force on June 29, 2021. This legislation responds to calls from the business community to provide more generous rules allowing owner-managers and farmers to use the lifetime capital gains deduction to shelter tax on a transfer of shares within the family.
The federal government has stated that the current legislation will remain in effect until at least November 1, 2021. After that date, further amendments are expected to limit the circumstances in which taxpayers can take advantage of the new rules.
Business owners who have adult children may want to consider restructuring their business now to take advantage of the more generous rules provided during this interim period.
In this free webinar for accountants and finance professionals, we will deliver an overview of the new legislative regime, including the tax issues arising from Bill C-208, and discuss available planning opportunities and risks.
- Webinar: Tuesday, August 31
- Time: 10 to 11 a.m. CST
- Cost: Free
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