In this course by Canadian Tax Matters, we will thoroughly examine the pivotal updates from the 2024 Federal Budget with a particular emphasis on the taxation of capital gains. This session is designed for financial professionals, tax consultants, and individuals looking to deepen their understanding of the latest tax implications and inform their financial decisions. Given the impending changes that take effect on June 25, 2024, taxpayers should consider recognizing their unrealized gains prior to this date. Our exploration of this topic will include multiple calculations/scenarios to explore the impacts. This discussion will not only cover the logistical aspects of early recognition but also strategic considerations to maximize tax efficiency. Participants will gain insights into the practical steps needed to comply with the proposed changes, the potential risks and benefits of early gain recognition, and the broader impact of these changes on personal and business finances. By the end of this course, attendees will be equipped with the knowledge to navigate the complexities of the updated tax landscape effectively and advise their clients or manage their affairs with enhanced expertise.
Changes to the capital gains inclusion rate
Exploring impacts: corporations, individuals, and trusts
Should taxpayers recognize capital gains before June 25, 2024?
Calculation examples
How the capital gains exemption integrates with the new rules
How Alternative Minimum Tax impacts the results
Capital gains strips, selling shares, and selling assets
How stock options will be impacted
Exploring the Canadian Entrepreneurs' Incentive
Exploring the Employee Ownership Trust and the $10 million exemption for qualifying business transfers