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NEW In-House Counsel | Insurance | Intellectual Property | Immigration | Natural Resources | Real Estate | Tax

Proposed changes to Income Tax Act spark conversation on succession planning 'problem'

Friday, February 17, 2017 @ 12:47 PM | By Amanda Jerome

Calgary business lawyer Cameron MacCarthy was not surprised when Bill C-274 didn't pass last week and was referred to a standing committee. The bill, tabled by Quebec MP Guy Caron, aims to amend the Income Tax Act to help business owners avoid a higher tax when selling their businesses to their children.

“I think that like many private member's bills the objective of the bill is to flag an issue and raise awareness for it," said MacCarthy, a partner with Shea Nerland with an expertise in...