Lifetime Capital Gains Exemptions for Business Corporations, Farm and Fishing Properties

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Special capital gains exemptions are available to certain business owners and owners of certain farm and fishing properties. While these exemptions have been a frequent topic of commentary from tax professionals, their complexity and application to practical, real-world situations can make them difficult to navigate. The complexities are heightened by recent legislative changes and possible future amendments that could make proper planning for the lifetime capital gains exemption all that more relevant and important for you and your clients.

Join Neil Gurmukh and Rahul Sharma, partners in Miller Thomson LLP's tax and private client services groups, for a detailed and practical discussion of the lifetime capital gains exemption rules for both qualified small business corporation shares and qualified farm and fishing properties. The presentation will focus on the rules and current planning opportunities for business and farming families, including the "multiplication" of the lifetime capital gains exemption through the use of discretionary family trusts. The webinar will also consider "purification" strategies to maintain access to the lifetime capital gains exemption in the context of the recent amendments to subsection 55(2) of the Income Tax Act (Canada). On a final note, the presentation will consider the possible future of the lifetime capital gains exemptions and changes that the Federal Government could make to the exemptions in light of comments which were included as part of the 2017 Federal Budget.

Target Audience

This webinar will be of most interest to accountants practicing independently or in small to medium sized firms, and tax practitioners. It may also be of interest to lawyers or financial planners.

Webinar Length: 2 hours

Professional Development Credits

Wolters Kluwer Canada professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your specific situation.

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Format Webinar on demand