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Bill C-208 opens the door to new tax-planning opportunities for family businesses

By Tina Huang; Published in CPABC in Focus
Published: 11/19/2021
Bill C-208 opens the door to new tax-planning opportunities for family businesses
Photo credit: archivector/iStock/Getty Images

Succession planning is an important consideration for the founders and owners of family businesses, and the tax strategies available for selling shares to and purchasing shares from a third party versus a related party can vary significantly. In particular, there are various provisions in the Income Tax Act (ITA) that limit the tax advantages for an intergenerational transfer of shares within a family.

Bill C-208 opens the door to new tax-planning opportunities for family businesses


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