An Act to amend the Income Tax Act (transfer of small business or family farm or fishing corporation)

This bill is from the 43rd Parliament, 1st session, which ended in September 2020.

Sponsor

Larry Maguire  Conservative

Introduced as a private member’s bill. (These don’t often become law.)

Status

Second reading (House), as of Feb. 27, 2020
(This bill did not become law.)

Similar bills

C-208 (43rd Parliament, 2nd session) Law An Act to amend the Income Tax Act (transfer of small business or family farm or fishing corporation)
C-274 (42nd Parliament, 1st session) An Act to amend the Income Tax Act (transfer of small business or family farm or fishing corporation)

Elsewhere

All sorts of information on this bill is available at LEGISinfo, an excellent resource from Parliament. You can also read the full text of the bill.

Bill numbers are reused for different bills each new session. Perhaps you were looking for one of these other C-208s:

C-208 (2025) National Livestock Brand of Canada Act
C-208 (2021) Early Learning and Child Care Act
C-208 (2015) An Act to amend the Canada Evidence Act (interpretation of numerical dates)

TaxationStatements by Members

June 11th, 2024 / 2:05 p.m.


See context

Conservative

Brad Vis Conservative Mission—Matsqui—Fraser Canyon, BC

Mr. Speaker, at a time when food insecurity is skyrocketing and millions are lining up at food banks, the government is bringing forward a punishing capital gains tax hike that would disproportionately affect family farms and small business. According to the Grain Growers of Canada, it will amount to a 30% increase on what farmers have to pay Ottawa when they pass on their family business to their son or daughter.

The Conservatives have fought hard to preserve family farming, including by passing Bill C-208 in the last Parliament, but the Liberals are trying to undo it with a punishing capital gains tax hike. It is like they are trying to outlaw family businesses. If families cannot afford to farm, it will lead to more industrial farming and higher food costs.

Why is the government trying to kill family farms when all they want to do is put high-quality, affordable food on our tables? How is any of this fair?