Lifetime capital gains exemption will increase as of January 1, 2017December 7, 2016
Effective January 1, 2017, the lifetime capital gains exemption will increase to $835,716.
As a result, every Canadian resident individual who disposes of qualifying small business corporation shares in 2017 can shelter up to $835,716 in capital gains on those shares from tax.
A full list of all indexation increases can be found on the CRA website.
If you have questions about tax planning, please contact us and we will be happy to assist.
By LaBarge Weinstein’s Taxation, Tax Planning, and Tax Litigation team.
This information is correct as of the date of posted.