Canada’s small business lobby is outraged the Department of Finance is delaying a new law that allows small business owners to pass their businesses on to their children without triggering tax consequences. “It’s deeply insulting that Ottawa has taken this tack,” said Dan Kelly, head of the Canadian Federation of Independent Business. “This has been a battle for over a decade to fight for tax fairness for small business owners. Loading... Loading... Loading... Loading... Loading... Loading...Kelly said the levy is hardest on small farms and fisheries whose owners rely on the value of their business, rather than pension plans, to maintain wealth and financial stability in old age. “They have to make a choice between funding their retirement or seeing their business continue in the family.

Source: thestar July 08, 2021 21:56 UTC