Proposed bill positive news for Family Business Owners

A recent article in the financial post highlights a new bill that has been proposed in the House of Commons.  The proposed bill seeks to level the playing field for the tax implication of selling a business to your family member vs. to a third party.  Currently, a significant deduction from the capital gain is allowed when selling to a third party, but this deduction is not necessarily available when selling to a relative.  The proposed bill could be a welcome change for many family-owned businesses in Canada.  Please see the Financial Post article HERE