Ownership News: January 2024

Canadian Government Proposes Significant Tax Incentives for EOTs In its 2023 Fall Economic Statement released on November 21, the Canadian government (the ruling party in Parliament) “introduce[d] a series of new measures to advance the government's economic plan by continuing to build a stronger economy, and provide[d] important updates on key pillars of the government’s plan to fight climate change and create great careers for Canadians from coast to coast to coast.” The new measures include a tax exclusion on up to the first $10 million in capital gains from the sale of a business to a qualifying employee ownership trust (EOT) (p