Quote:
Originally Posted by Slava
Right but you also have LCGE you can use (which is now $1.25m and indexed going forward).
I’m on record many times on this forum saying how I hate capital gains taxes, but the reality is the government needs money. There’s no way anyone is feeling too sorry for people in these scenarios. The biggest risk is having the very wealthy people move to lower tax regimes, but otherwise it’s politically not a brutal strategy.
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LCGE is such a small scope its really not even worth pointing out and really doesn't apply to most people. The main qualified asset being Qualified small business corporation shares which most people would not hold unless they are small business owners meeting the definition of a CCPC.