ARTICLE · 29 JUNE 2023

Tax Tricks For Selling The Shop, Part 3

Minden Gross LLP

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In my previous articles, I focused on some tax-planning strategies and options when selling your business. So the coincidence was uncanny when the 2023 federal budget, which was announced on March 28...

CanadaTax

Samantha Prasad

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Changes to intergenerational transfer rules

In my previous articles, I focused on some tax-planning strategies and options when selling your business. So the coincidence was uncanny when the 2023 federal budget, which was announced on March 28, 2023, included some significant changes that made me think that Part 1 and Part 2 in my series needed a Part 3 and 4.

While there were more issues covered in the budget, in this article and the next I will focus on two specific proposals that will be of interest for those looking to sell their business. The first is proposed changes to the Inter-Generational transfer rules. These changes apply to the disposition of shares that occur on or after January 1, 2024.

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