When it comes to the taxes, it’s more affordable to sell your family business to a stranger than it is to sell it to your son or daughter.
Rimouski NDP MP Guy Caron is touring the Atlantic Provinces spreading the message about his bill that would make it more financially beneficial to transfer a farm or a fishing business within a family.
He says that is not currently the case.
For a business worth a million dollars in Capital Gains, you can pay up to $250,000 more in taxes if you want to sell to your children.
Caron was spreading his message in Fredericton and Saint John yesterday and moves on to Moncton and then Halifax, Truro and will also spend a couple weeks in Newfoundland and Labrador.
He tells us his bill currently has the support of the other opposition parties in Ottawa.
