For many years, non-arm’s length intergenerational transfers of corporate businesses were treated inequitably under the Income Tax Act (ITA). A transfer of a corporate business between non-arm’s length parties[1] resulted in dividend treatment to the vendor instead of capital gains treatment, precluding the ability to claim the capital gains deduction. …
Tag: Bill C-208
Total 2 Posts
As the story of Bill C-208 (intergenerational transfers) continues to evolve, I can’t help but make analogies to my favorite childhood trilogy. The Star Wars trilogy was a dominating force in my childhood. I lived and breathed the interesting stories produced by this vast universe created by George Lucas. In…