Toronto tax expert David Rotfleisch was featured recently in an article on legalwriter.net. In the article, he expressed how the tax bill, which will be enforced come January 2020, will simplify the way family businesses are passed on to the children of the owners.
“For private business, the changes remove a major irritant to family succession. The CRA or the federal government should have done it years ago, because small business is the main engine driving the Canadian economy.”
Read more about what he has to say here.
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."