FEDERAL BILL

Bill C-275, An Act To Amend The Income Tax Act (business Transfer)

FEDERAL BILL - AMENDS ONE STATUTE

1st Reading
May 20, 2016


SUMMARY This enactment amends the Income Tax Act in order to exclude, under certain conditions, the transfer of qualified small business corporation shares by a taxpayer to the taxpayer’s child or grandchild who is 18 years of age or older from the anti-avoidance rule of section 84.‍1.


Published on May 20, 2016

Bill Summary

Bill C-275, An Act To Amend The Income Tax Act (business Transfer)

SUMMARY

This enactment amends the Income Tax Act in order to exclude, under certain conditions, the transfer of qualified small business corporation shares by a taxpayer to the taxpayer’s child or grandchild who is 18 years of age or older from the anti-avoidance rule of section 84.‍1.

This Bill Amends The Following Statutes

  1. Income Tax Act R.S.C., 1985, c. 1 (5th Supp.)

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