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04 April 2016

Federal budget 2016-17 has consequences for Canadian private company sale transactions

Federal Finance Minister Bill Morneau tabled his first budget on March 22. There are certain aspects of Budget 2016 that are relevant to the purchase and sale of private companies. Sellers and potential sellers of businesses carried on by private corporations should be aware that changes proposed in Budget 2016 will potentially have significant negative tax consequences for transactions that close in 2017 and later.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.

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ATTACHMENT

Document ID: 2016-0611

 

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