Family businesses have been denied access to the capital gains exemption on inter-generational transfers. A private members bill that is now law has opened up this opportunity. The government has accepted these changes for now but they are planning to modify by November. Grant Thornton Tax partners Cody Lohnes are Keith MacIntyre will give an overview of the new rules, what you can consider doing now and what to expect from the government in November. Cody Lohnes and Keith MacIntyre have a combined tax experience of 40+ years dealing with family business in various industries. Keith was dealing directly with both MP Maguire’s office on the private member’s bill and they both understand the progressive Quebec legislation that made this change several years ago. So looking at in-depth knowledge on existing law and good insight into what can be expected.

Keith MacIntyre is a partner in tax services with Grant Thornton and has significant expertise helping clients in real estate construction and technology deal with intricate matters of tax, with an emphasis on incentives for fundraising. As a partner of Grant Thornton LLP in Nova Scotia, Keith works to advance the interest of the investment community and support economic growth. He was one of the lead authors on a report, “Modernizing the Equity Tax Credit”, along with Scott Moffitt of BioNova, James Curry of ACOA and Sean Sears of Ogden Pond Capital. The paper was co-presented by Grant Thornton, Cox & Palmer and BioNova to the Province of Nova Scotia providing recommendations to evolve the equity tax credit to attract investment for Nova Scotia businesses.

Cody Lohnes is a Tax Partner at Grant Thornton LLP providing tax and business advisory services to various industries with a strong sector focus in fishing and professional groups. He focuses on owner-managed businesses providing corporate and personal tax planning, estate planning, reorganization planning, mergers and acquisitions, trust and business advisory. Cody is the National Succession & Estate Planning leader for Grant Thornton LLP Canada.

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