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

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