The recent Federal Budget announcement made on April 16th, 2024, introduces significant changes to the capital gains inclusion rate, set to impact corporations, trusts, and individual investors.
Effective from June 24th, 2024:
- Corporations and trusts will see the capital gains inclusion rate rise from 1/2 to 2/3 for all dispositions.
- Individuals will also be subject to a 2/3 inclusion rate on capital gains that exceed $250,000 annually.
It’s crucial to plan ahead with these changes in mind. For personalized advice on how this may affect your financial and tax strategies, do not hesitate to reach out to our team. We are here to help you navigate these updates effectively.
