Upcoming changes to the capital gains inclusion rate: Planning opportunities to reduce the impact of the new rules
Since 2000, the capital gains inclusion rate under the Income Tax Act (the “Tax Act”) has been one-half of the applicable capital gain. As a consequence, capital gains during this period of time have generally been subject to tax at […]
Update on Bill C-208 New taxation rules impacting transfers of family businesses to the next generation
In our previous article on this topic, we discussed Bill C-208 (the “Legislation”), a Private Member’s bill that amends the Income Tax Act[1] (the “Act”) to change certain rules in sections 55 and 84.1 of the Act to facilitate intergenerational […]
New taxation rules impacting transfers of family businesses to the next generation Everything you thought you knew about intergenerational transfers is now wrong
Owners of family small business corporations, family farming and fishing corporations, especially those contemplating intergenerational transfers of those businesses, should take note of a significant change to Canada’s tax laws designed to “level the playing-field” between related-party and arm’s-length transfers. […]
William Fowlis quoted in The Globe and Mail’s Family Business Report
The Globe & Mail (Sponsored Content)
William Fowlis is quoted in The Globe and Mail’s Family Business Report: Running a family business involves intricate teamwork by a group of family members collaborating in lockstep for the good of the entire enterprise. It also requires advisors working […]
Restarting the clock on a trust’s 21-year deemed disposition: The Coronavirus (COVID-19) economy may be the right time
An estate freeze is an effective mechanism used in estate and succession planning for owners of privately held corporations or for investors with investment portfolios. An estate freeze normally contemplates the current shareholder/owner being issued fixed value preferred shares in […]
Surplus Stripping: Is the Pipeline Leaking Again?
On April 25, 2013, the Federal Court of Appeal (“FCA”) released its decision in the case of MacDonald v. R (2013 FCA 110) (“MacDonald”). Unfortunately for the taxpayer, the FCA in a unanimous decision overturned the decision of Justice Hershfield of […]
Federal Budget Review
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