Transferring the Family Business – The Landscape is Changing
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In this months "Link Between" we're going to focus on some coming changes for anyone looking to pass the family business on to the next generation. So if you or someone you know is planning to do this, then they need to be aware that there's a big change coming as of January 1, 2024.
When it comes to transferring the family business to the next generation, the tax rules in Canada are changing. Existing ‘anti-avoidance’ rules, which are meant to prevent the extraction of profits as a tax-free return of capital rather than as a taxable dividend, are being changed with a goal of...
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