Grantbook has implemented an Employee Ownership Trust (EOT) structure under new rules which became effective January 1, 2024, under the Income Tax Act (Canada). Grantbook is one of the very first Canadian business to be sold to an EOT, which allows employees to become the indirect owners of a qualifying business.
Bennett Jones acted for Grantbook on the matter, assisting with all aspects of the transaction, including settling the EOT that now controls Grantbook and ensuring compliance with legislative requirements.
Grantbook is thrilled to be an early adopter of the EOT structure and Bennett Jones is proud to have assisted Grantbook is reaching this milestone.
The Bennett Jones team was led by Wade Ritchie and Wesley Novotny with support from Jay Winters and Zach Thacker (Tax).
Founded in 2012, Toronto-based Grantbook is a technology consulting firm for grantmaking organizations.