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Keyword: Budget 2024

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Capital gains not flowed out to beneficiaries are "trapped" in the trust at death

time clock

Given several complicating factors, waiting until the last minute is a bad idea, tax experts say

parliament hill

Feds won't change tax treatment for REITs, and the status of other major tax proposals from the Trudeau government

parliament hill

Screen scraping would be phased out over time

housing costs

Homeowners must now consider the proposed higher capital gains inclusion rate

Two entrepreneurs working on their bills in the retail store

Incorporated professionals must consider deferral, dividends and deductions

Signing bank documents

Determining how long the client was going to hold the asset is an important factor in the decision

Cartoon businessman running away from tax collector

The agency could extend reassessment period if a taxpayer is issued a notice of non-compliance

Focus on Mutual Funds Special Report

Mutual fund corporations can pass gains to unitholders

compliance

While financial advisors are still subject to the rules, the budget change could undermine lawyers' Charter challenge of the regime