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Courses/Accounting & Tax/Tax Planning & Compliance

Intergenerational Business Transfers – Tax Considerations

Understanding Tax Implications for Family Business Transfers in Canada.

Created byAlex Garber
4.7
(295 reviews)
IntermediateUpdated Oct 27, 2024
Intergenerational Business Transfers – Tax Considerations

What You'll Learn

check_circleIdentify and differentiate the tax considerations of various Canadian business structures in family transfers.
check_circleExplore effective methods for transferring a family business to related owners.
check_circleAnalyze tax implications of gifts, sales, and share transfers for both sellers and buyers.
check_circleReview changes to Section 84.1, including amendments by Bill C-208 and updates effective January 1, 2024.

About This Course

For many family businesses, the eventual retirement of its founder(s) often results in the transfer of the business to another—usually younger—owner within the family. In this course, we will examine the tax implications and various other considerations relevant when a family business is transferred to another related owner.

Topics Covered:

  • Different business structures in Canada
  • Potential methods of transferring a family business to another family member
  • Gift, sale, and transfer of shares—tax implications to seller and buyer
  • Example scenario to illustrate application
  • Section 84.1 – review of technical rules (prior to June 2021)
  • Bill C-208 amendments to section 84.1 – review of technical rules (from June 2021 through December 2023)
  • Further changes to section 84.1 – review of technical rules (effective January 1, 2024)

Your Instructor

Alex Garber
Alex Garber

Educator and Tax Advisor

menu_book20 courses
star7,436 reviews

Alex Garber, CPA, CA, MTax has been working in public accounting since 2004, focusing primarily on income taxation for Canadian owner-managed businesses and their shareholders. Alex presents PD seminars for CPA Ontario and facilitates at the CPA Canada In-Depth Tax Program. Alex is also a faculty member at the Schulich School of Business, York University, where he teaches income taxation at both undergraduate and master's levels. Alex started his career with Deloitte and Touche LLP in Toronto. He is currently an independent tax advisor, assisting various clients, sole-practitioners and CPA firms in Ontario.

Credit Information

Is this course eligible for my CPD requirements as a Canadian CPA?

Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.

Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.

What Students Are Saying

4.7
Student's Choice
295 reviews

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.