In Budget 2024 the federal government announced an accelerated and automatic process to directly return over $2.5 billion to small and medium sized businesses in the provinces where the federal fuel charge applies through the new Canada Carbon Rebate for Small Businesses…
Employee Ownership Trust Update – Federal Budget 2024
The 2024 federal budget provides additional details on the $10 million exemption from taxation on capital gains realized on the sale of a business to an Employee Ownership Trust (“EOT”) that were not included in the 2023 Fall Economic Statement or Bill C-59.
There has been a lot of coverage in the media lately about the Federal Government changing the inclusion rate for capital gains (the part of a capital gain that is taxed) from 50% to 66.7%.
We want to provide you with the opportunity to receive cutting-edge tips, the latest tax updates, and other relevant information for both individuals and business-owners.