2024 Federal Budget – Implications of the Proposed Capital Gains Inclusion Rate Increases

Navigating the New Canada Tax Laws

Are you wondering how the proposed 2024 Federal Budget changes might affect your investments? Curious about the implications of the increased capital gains inclusion rates? Want to know the key considerations for financial planning in light of these changes? Today’s episode dives deep into these questions and more.

Today, Keith is joined by Gerry Theus, a seasoned tax expert, to explore the nuances of the proposed capital gains inclusion rate increases. They will discuss the transition from the old rate to the new, highlight the direct impacts on various investment structures, and unravel strategies to optimize financial outcomes under these new regulations.

This episode is crucial for anyone looking to understand and navigate the new tax laws effectively.

Thank you for tuning in!

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Clarifying Misconceptions of Capital Gains Taxes

• Gerry’s background in tax law (02:29)
• Which types of investment structures are impacted by capital gains taxes (04:52)
• Assets that are exempt from capital gains taxes and clarifying common misconceptions (07:21)
• Assets that are typically subject to capital gains taxes upon appreciation (09:38)
• Tax bands and implications for individuals (12:26)
• Triggering gains before law changes (14:48)
• Strategies for dealing with capital gains from real estate (17:24)
• Advantages of being able to sell parts of a portfolio to manage potential capital gains tax liabilities (19:46)
• Future considerations for entrepreneurs holding commercial property (24:31)
• Capital gains adjustments for entrepreneurs (26:53)
• Updates on the the Lifetime Capital Gain Exemption (LCGE) increases (29:14)
• Update of the new Canadian Entrepreneurs Incentive program (31:41)

Mentioned in this Episode:

• Federal Budget 2024
• Gerard P. Theus CPA, LL.M
• Tulett, Matthews & Associates