Royal assent has been granted to a Canadian federal Bill easing the tax consequences of transferring a small business corporation between family members. Private Member’s Bill C-208 permits individual transferors to claim the lifetime capital gains exemption for such transfers, enabling siblings to access the related-party exception to the Income Tax Act's capital gains stripping provisions and allowing some intra-family transfers to be treated as arm's-length transactions.
News Source：【Canadian Department of Finance 2021/06/30 】