Canada | Finance releases details on CA$10m capital gains exemption on sale to employee ownership trust

21 May 2024|Tax Alerts, Legislation & Policy, National/Federal Taxation|Canada

Bill C-69, Budget Implementation Act, 2024, No. 1, which received first reading in the House of Commons on 2 May 2024, implements the temporary exemption from taxation of the first CA$10m in capital gains realized on the sale of a business to an employee ownership trust (EOT).
This new exemption will operate as an additional incentive to the original proposals relating to the sale of a business to an EOT.
This Tax Alert provides a brief overview of the temporary capital gains exemption and related…

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