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Act Now for Intergenerational Transfers – Bill C-208 Amendments to Section 84.1

There is still a window of opportunity for tax savings when transferring a business to a corporation owned by your child or grandchild and being allowed to claim the lifetime capital gains exemption before amendments are proposed to Bill C-208. Bill C-208 is a private member sponsored bill that allows small business owners to claim…
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Administration of Property Held for Others Under Statutory Authority  

By Nizam Shajani. CPA, CA, MBA As your parents and grandparents age, you may find yourself in a position where you need to assist them with the management of their financial affairs.  Taking on this responsibility requires an understanding of what is or may become involved in financial reporting. Passing of accounts is the process…
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