There are ways for producers to shield themselves from increased capital gains inclusion, but it may take some legwork and consultation with an expert to determine eligibility, said a chartered professional accountant from Alberta. Last June, the Canadian government increased the inclusion rate for individuals and corporations. Capital gains increased from 50 per cent to […] Read more
Tag Archives capital gains
House committee told federal tax policy hurts farm transfers
Producers, organizations say intergenerational farm transfers are at risk from capital gains changes made earlier this year
REGINA — Farm organizations continue to strongly oppose changes to the capital gains inclusion rate, telling the standing agriculture committee last week that federal tax increases hurt intergenerational farm transfers. As of June 25, the inclusion rate is 50 per cent for capital gains up to $250,000 and two-thirds on amounts over that. The increase […] Read more
Program changes not seen as remedy for capital gains loss
Federal government revamps Canadian Entrepreneurs’ Incentive, but Grain Growers of Canada say the move isn’t enough
Glacier FarmMedia – Grain Growers of Canada says proposed changes to the Canadian Entrepreneurs’ Incentive will help some grain farmers but won’t offset losses due to changes to the capital gains inclusion rate. “Patchwork approaches and fragmented incentives won’t deliver the economic growth and support that Canada’s grain farmers and rural communities need,” the organization […] Read more
Changes to Canadian Entrepreneurs’ Incentive won’t offset capital gains losses says Grain Growers
Glacier FarmMedia – Grain Growers of Canada says proposed changes to the Canadian Entrepreneurs’ Incentive will help some grain farmers but won’t offset losses due to changes to the capital gains inclusion rate. “Patchwork approaches and fragmented incentives won’t deliver the economic growth and support that Canada’s grain farmers and rural communities need,” the organization […] Read more
Recent analysis on capital gains tax is misleading
Farmers now have another reason to bash the Trudeau Liberals — the increase in the capital gains tax inclusion rate. Unfortunately, many of the arguments against the tax don’t withstand scrutiny. Certainly, taxes of all kinds are too high in Canada. In the case of the federal government, the public employee contingent has ballooned, expanding […] Read more
Capital gains tax hike wide reaching
A lot of Canadians are finding out they’re richer than they think, at least according to the tax man. The way the Trudeau government is pitching its capital gains tax hike, you’d think it’s only affecting Canada’s richest 0.13 percent of taxpayers. Unless you own your own private jet, you shouldn’t have anything to worry […] Read more
Changes to capital gains inclusion rate now in effect
Federal gov’t has been under pressure to reverse the decision, but an economist says it is unlikely to change its mind
REGINA — The June 25 deadline to implement federal tax changes has come and gone without the exemption farmers wanted. Organizations had asked Ottawa to keep the capital gains inclusion rate for farmers at 50 per cent instead of raising it to 66.67 per cent. This rate applies to capital gains of more than $250,000. […] Read more
Know details of lifetime capital gains exemption changes
Running a successful farming operation involves a non-stop dance with Mother Nature, trying to co-operate with her and achieve balance within the ecosystem. Then there’s the financial side, where it can be difficult to increase profits while reducing expenses and taxes. The federal government has announced increases in the lifetime capital gains exemption (LCGE) limit […] Read more
Capital gains changes continue to draw concern
Organizations say increasing the inclusion rate will affect intergenerational transfer and decrease the number of family farms
REGINA — The farm lobby against federal changes to the capital gains inclusion rate is gathering steam. Grain Growers of Canada launched ProtectFamilyFarms.ca last week after revealing research showing family grain farmers would face 30 per cent more in taxes if the rate rises from one-half to two-thirds. The online lobby allows farmers to contact […] Read more
Capital gains changes to proceed
REGINA — Canadian finance minister Chrystia Freeland tabled a notice of motion June 10 to change the capital gains inclusion rate. The Notice of Ways and Means motion follows an announcement in the April budget that the change was coming. Legislation is to follow. Ottawa intends to increase the rate from one-half to two-thirds on […] Read more
