Proposed Changes to Capital Gains Inclusion Rate in Budget 2024 | |
The 2024 Canadian federal budget proposes changing the capital gains inclusion rate effective June 25, 2024. Corporations and trusts will face a two-thirds inclusion rate on all capital gains, while individuals will have a two-thirds rate on gains exceeding $250,000. This change impacts high-gain scenarios, especially for professional corporations and large real estate sales. Several tax planning opportunities exist, such as crystallizing gains via Section 85(1) rollovers or share exchanges, and using carryforward net capital losses. Readers should consult tax professionals due to the complexity and evolving nature of these changes. For more information please visit - https://www.maroofhs.com/post/tax-alert-capital-gains-inclusion-rate-changes-and-planning-opportunities-canada/ Address: Maroof HS CPA Professional Corporation 4102-85 Queens Wharf Rd Toronto, M5V 0J9, ON Canada (647)724-4308 | |
Related Link: Click here to visit item owner's website (1 hit) | |
Target Prov.: Ontario Target City : Toronto Last Update : May 21, 2024 1:38 AM Number of Views: 48 | Item Owner : Maroof Contact Email: Contact Phone: (647)724-4308 |
Friendly reminder: Click here to read some tips. |