High-net-worth and incorporated clients look for guidance on complex changes
Two sectors made 53% of all corporate capital gains in Canada between 2018 and 2022, data shows
Many businesses remain shut out of tax break on increased capital gains inclusion rate
Clarifications concerning the capital dividend account are welcomed by tax practitioners
The Parliamentary Budget Officer estimates $17.4 billion in tax revenues arising from the increased capital gains inclusion rate
A company could face 60% tax on unintentional payout of excess amounts from its capital dividend account
The measure proceeded despite significant pushback from business and physicians' groups
Clients may be able to use the $250,000 threshold over multiple years