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 […]