In an article written on January 10, 2023 by the Canadian Federation of Independent Business (CFIB),over $2 trillion in business assets could change hands within the next decade as over three-quarters (76 per cent) of small business owners are planning to exit their business. Unfortunately, as the article points out, only…
Tag: Intergenerational transfers
Total 2 Posts
Since the introduction of the draft legislation for intergenerational business transfers (IBT) on March 28, 2023, the National tax services team at Baker Tilly Canada has reviewed the IBT rules in detail. For a convenient summary of the proposed IBT rules, please refer to the following document prepared by the…