What we will cover in this Webinar

On June 29th, Bill C-208 received Royal Assent. The Bill enables intergenerational transfers of certain property to occur with the benefit of the transferor claiming the capital gains deduction. The new legislation has brought excitement to the business community as it allows the intergenerational transfer of certain family businesses to receive the same tax treatment as businesses sold to a third party. However, the legislation was followed by an unconventional update by the Department of Finance on June 30th. This has created confusion and challenging businesses and their advisers of whether or not to proceed with transactions.

  • What is included in Bill C-208?

  • Recap of anti-avoidance rules in 84.1

  • Which corporations are impacted?

  • Conditions to facilitate intergenerational transfers

  • How the new legislation impacts siblings

  • How can the legislation be abused?

  • What opportunities are available to intergeneration businesses?

  • Should family businesses wait before implementing transactions?

  • Is the law current on June 29, 2021 or Jan 1, 2022?

  • Summary of the July 20th Finance Committee session

Guest Speaker

Armando Iannuzzi, BComm, CPA, CA

Armando is a tax partner and a co-managing partner at KRP. He has wide-ranging expertise in cross-border taxation, estate and trust planning. His deep familiarity with all aspects of business ownership informs the direct, hands-on approach he instills across our specialized tax, accounting and consulting teams. Armando has won accolades for his involvement in the national tax community, having taken on multiple leadership positions over the years. He tutors various levels of the In-Depth Tax Course and is a lecturer and tutor for CPA Canada, while sitting on the CPA’s Income Tax Education Committee. He has also participated in a varied range of speaking engagements for the CPA, along with several major banks and Russell Bedford International. Armando currently sits on Russell Bedford International’s board of directors. A valued mentor and trusted voice on taxation, he has written for several publications and has been quoted extensively by the media. Furthermore, he provides tax training to other professionals through various organizations, including the Canadian Tax Foundation, CPA Canada and CPA Nova Scotia.
Armando Iannuzzi

Also Included

  • Communication updates

    Notifications of key changes surrounding Bill C-208

  • Course Materials

    Access to course materials such as webinar slides and other relevant articles

  • Professional Development

    Individuals that complete the quiz will receive a 1-hour PD certificate