Tax relief for intergenerational business transfers

Episode 5 features Keith Hennel, Partner and lead of our Tax group in Edmonton. Many operators in the farming community have said that Canadian tax law involving intergenerational transfer of business assets unintentionally put family members at a disadvantage compared to third parties when it comes to sale of business assets. Bill C208 is a private members bill that passed Senate approval on June 22, 2021 that attempts to address the tax law around intergenerational transfer of business assets. You can find Keith’s contact information here.