Wade Ritchie

Bennett Jones LLP

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Bennett Jones Leading the Way in Employee Ownership Trusts

Effective January 1, 2024, Canada introduced detailed rules into the Income Tax Act (Canada) to facilitate and encourage employee ownership of small and medium sized Canadian businesses through the creation of employee...more

2/14/2025 / Business Ownership , Canada , Capital Gains , Employee-Ownership , Estate Planning , Income Taxes , Small Business , Tax Credits , Tax Planning , Trusts

Employee Ownership Trusts—Improved Tax Incentives Announced

The Canadian Department of Finance introduced draft legislation in the 2023 Canadian Federal Budget (Budget 2023) to create employee ownership trusts (EOTs) to facilitate the transfer of a business to the employees of the...more

11/27/2023 / Business Ownership , Business Taxes , Business Transfer Agreements , Canada , Corporate Taxes , Department of Finance , Employee-Ownership , Proposed Legislation , Tax Incentives

Employee Ownership Trusts—A Useful Tool for Employee Business Ownership?

There is a growing international movement to increase employee ownership of businesses. Some jurisdictions such as the United Kingdom and the United States have developed tax rules and incentives to facilitate business...more

5/2/2023 / Business Ownership , Canada , Department of Finance , Employee-Ownership , Federal Budget , Proposed Legislation , Shareholders , Tax Incentives

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