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What clients need to know about employee ownership trusts

Business owners should compare EOTs with other exit options ....

Christine Cooper , Wesley Novotny , Michael Decicco , Stikeman Elliott , Bennett Jones , Income Tax Act ,

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 business. We provided an overview of the rules initially proposed in Budget 2023 in Employee Ownership Trusts A Useful Tool for Employee Business Ownership?, and recommended various revisions to the proposed rules to improve the tax incentives and ease some of the conditions required to qualify for EOT treatment. The Department of Finance released revised EOT legislation on August 4, 2023, addressing some of our concerns but not the big one the revised EOT legislation still contained minimal tax incentives. ....

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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 ownership by trusts created for the benefit of a business s employees. ....

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