Lifetime Capital Gains Exemption Increased as of January 1, 2020
Effective January 1, 2020, the lifetime capital gains exemption will increase to $883,384.
As a result, every Canadian resident individual who disposes of qualifying small business corporation shares in 2020 can shelter up to $883,384 in capital gains on those shares from tax.
A full list of all indexation increases can be found on the government website.
If you have any questions about tax planning, please contact us.