Can You Transfer a Business to Your Family Tax-Free?

New Legislation to Help Canadians Sell Family Business Without Tax

Do you have a family-owned business? Is it time to retire after years of hard work? Do you want to sell to a family member, perhaps a child or children who have worked with you to build the business?

You’ve probably been thinking about this for a few years, perhaps talked to your accountant. The exit planning news was probably not good. No matter which way you structured the sale to a family member, there was a big chunk of tax to pay. Well, here’s my quick summary of some great tax planning news!

Continue reading