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Government of Canada clarifies taxation for intergenerational transfers of small business shares  

Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, affirmed that Bill C-208 has been passed by Parliament, received Royal Assent, and has become a part of Canada’s Income Tax Act. The changes contained in this legislation now apply in law. This news release seeks to bring clarity to the government’s intentions going forward and replaces the June 30th news release on this subject.

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