On Thursday, October 22nd, Deputy Prime Minister and Finance Minister Chrystia Freeland announced the "final pivot in delivering the support needed to deliver a robust recovery." This "Final Pivot" means several existing pandemic support programs for individuals and businesses will expire on October 23rd, 2021:
- Canada Recovery Benefit (CRB)
- Canada Emergency Rent Subsidy (CERS)
- Canada Emergency Wage Subsidy (CEWS)
http://coreplan.net/wp-content/uploads/2021/10/COVID-19-Emergency-benefits-expire-october-23.png281500CorePlan Financial Inc.http://coreplan.net/wp-content/uploads/2018/06/dualLogo3.jpgCorePlan Financial Inc.2021-10-22 14:19:082021-10-22 21:36:06"Final Pivot" - COVID-19 Emergency Benefits expire October 23rd, replaced by targeted supports
No business owner likes to think about handing over their business they've built from the ground up. But the fact of the matter is, you will have to do it eventually. Even more concerning, what if you were to become ill or incapacitated? Making a decision of this magnitude during trying times would not be ideal.
For the business owner, an estate freeze can be an integral part of your estate planning strategy. The purpose of an estate freeze is to lock-in (freeze) the value of the business, freeing the successor from the tax liability that may arise should the business' value increase.
Business owners deal with a unique set of challenges. One of these challenges includes succession planning. A succession plan is the process of the transfer of ownership, management and interest of a business. When should a business owner have a succession plan? A succession plan is required through the survival, growth and maturity stage of a business. All business owners, partners and shareholders should have a plan in place during these business stages.
http://coreplan.net/wp-content/uploads/2021/09/Slide3.jpeg8101440CorePlan Financial Inc.http://coreplan.net/wp-content/uploads/2018/06/dualLogo3.jpgCorePlan Financial Inc.2021-09-01 07:00:002021-09-01 15:42:05Succession Planning for Business Owners
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