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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

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Interesting Article on Succession

If you are interested to know how Succession Planning is affecting the NDP party, Apple, as well as McDonald’s, check out this interesting article from the April 25, 2011 edition of Canadian Business Magazine.  The article provides interesting commentary that Succession Planning should be part of the annual strategic plan and that a Succession Plan should be put in place as soon as a CEO is hired.

Hope you enjoy!

Canadian Business Article

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