CHAMBER SPEECH - BILL C-208
Bill C-208, An Act to Amend the Income Tax Act (transfer of small business or family farm or fishing corporation), addresses an anti-avoidance rule in our Income Tax Act that unjustly burdens those wishing to complete genuine intergenerational transfers of a family-owned small business, farm or fishing operation. As Senator Deacon argues in support of the bill, Bill C-208 provides us with the opportunity to address a longstanding painful reality.