Capital Gains Exemption
Below are Tax Tips in respect of the capital gains exemption, one of the most valuable tax incentives provided to shareholders of private corporations in Canada. This allows a private company shareholder to sell shares and eliminate income tax on over $800,000 of lifetime capital gains triggered by the sale. Remember that each family member might qualify for their own exemption! Of course, the availability of the exemption is subject to a number of conditions.
TAX TIP Planning should be done to enable as many family members as possible to use the exemption, which may also be crystallized […]