As Canada’s housing affordability crisis deepens, homeowners, prospective buyers, and businesses are facing a trifecta of challenges: skyrocketing property taxes, persistently high interest rates, and increased capital gains inclusion rates on business properties. These financial pressures are not just numbers…
Overview of the Capital Gains Inclusion Rate Increase Motion Brace yourself, taxpayers: the capital gains tax is about to change dramatically. On June 10, 2024, the federal government introduced a Notice of Ways and Means Motion to the House of…
As Canada gears up for significant tax changes, understanding how these adjustments will impact your financial future is crucial. Starting June 25, 2024, the capital gains inclusion rate is set to increase, leading to higher taxes on your investments. Whether…
Are you looking for a way to optimize your corporate tax strategy and secure long-term financial gains for your family business? Crystallizing gains within a corporation could be the key. This strategic approach can help you maximize tax benefits while…
When it comes to trusts, understanding the roles of income beneficiaries and capital beneficiaries is essential for effective estate planning and wealth management. These two types of beneficiaries have distinct rights and tax implications, which can significantly impact the distribution…
In the latest federal budget, Finance Minister Chrystia Freeland has stirred significant controversy with proposed changes to the capital gains tax rates. However, these changes are notably absent from the motion she tabled to introduce the federal budget in the…
Capital gains crystallization is a financial strategy where individuals or businesses intentionally sell assets, like stocks or property, to realize their gains for tax purposes. By doing this, they "lock in" their gains at the current tax rate, potentially saving…
Introduction: Preparing for the 2024 Tax Changes in Canada The 2024 federal budget has introduced a pivotal shift for taxpayers across Canada with the proposal to increase the capital gains inclusion rate from 50% to 66.67%. This significant adjustment prompts…
The Canadian Federal Government's Budget 2024 has introduced sweeping revisions to the capital gains tax regime, signaling a profound shift in the fiscal environment for investors and family-owned businesses throughout the nation. These modifications, set to recalibrate the tax landscape,…