Canada’s Changing Capital Gains Tax Landscape

Canada’s Changing Capital Gains Tax Landscape

Understanding the Proposed Changes:

The proposed increase in the inclusion rate of capital gains, could lead to higher tax obligations for both individuals and corporations when realizing capital gains. Currently, 50% of capital gains are subject to tax, but if this rate is raised, it could significantly impact the financial outcomes of entrepreneurs and investors.

We recently hosted a live webinar on the topic which you can watch on YouTube.

Key Take-Aways:

  1. The proposal is part of the government’s efforts to address wealth inequality.
  2. The current capital gains inclusion rate is 50%.
  3. The potential changes could involve increasing this rate to 2/3 or 66.67%.
  4. This is not the first time the capital gains inclusion rate has changed, or even increased, since its introduction.
  5. Everyone’s individual situation is of the utmost importance when considering these changes.

Strategies for Entrepreneurs and Investors:

Given the potential changes in capital gains tax, it’s crucial for entrepreneurs and investors to evaluate their strategy. Here are some proactive steps to consider:

  1. Tax Planning: Engage with tax professionals to explore your strategies for structuring investments.
  2. Investing Decisions: Ensure you are reviewing your full picture plan with your trusted tax and investment advisors.

How Hendry Warren Can Help:

At Hendry Warren, we specialize in assisting entrepreneurs and investors in navigating complex tax landscapes. Our experienced team can provide tailored advice and strategies to optimize tax outcomes amidst changing regulations. By remaining proactive and leveraging expert guidance, businesses can navigate uncertainties and continue to thrive in the dynamic Canadian tax ecosystem.

Contact our team today to learn more about how we can support your tax planning needs and help you achieve your business objectives in an evolving regulatory environment.

Testimonial from Rob Waterman - President at Waterman Sales Ltd.

We have been in Business since 1992 and had an accountant who was a family friend. When he retired, we needed to find a new accountant. Jacob at Hendry Warren was recommended to us through our Lawyer. We met with him and were impressed immediately; over the years we have gotten to know more of the staff and are equally impressed. They have done our company taxes, company valuations, share purchases, tax planning, covid relief, personal taxes, etc. All of which have gone very smoothly. Hendry Warren is aware of new legislation and has helped us grow as a company.

Rob Waterman (President at Waterman Sales Ltd.)
Testimonial from Lynn LaHam - CPA, CGA, Crossroads Children’s Centre

Hendry Warren is a very professional organization who are very sensitive to client needs and timelines. Marie Fraser and all of the staff that I have met and worked with exhibit the same degree of courtesy and professionalism. It is always a pleasure working with them.

Lynn LaHam ( CPA, CGA, Crossroads Children’s Centre)
Testimonial from Chris Jerome, Treasurer - Habitat for Humanity – National Capital Region

Hendry Warren LLP has been easy to work with, dependable, personable and professional and are always available when we need them. The annual audit process is efficient and timely and their staff is always knowledgeable and well prepared.

Chris Jerome, Treasurer (Habitat for Humanity – National Capital Region)
Testimonial from Don Silverman - CFO Sciemetric

From the partners to the new graduates, the quality of service and advice were second to none…we rely heavily on the advice we are given from both an audit and tax perspective…I know that our firm can count on Hendry Warren LLP to be accurate, timely and professional at all times.

Don Silverman (CFO Sciemetric)
Testimonial from Gordon Miller - President, UNIGLOBE Premiere Travel

In every instance where advice or assistance has been needed it has been provided with clarity and timeliness. And with a very satisfactory outcome. Our accounting staff have always appreciated the efficiency of Hendry-Warren team assigned to our audits and review engagements. We appreciate that Hendry-Warren LLP is able to support our needs as a paperless group of companies.

Gordon Miller (President, UNIGLOBE Premiere Travel)
Testimonial from Les Bell, - CPA, CA, President, Lincoln Heights Ford Sales Ltd.

Ian Hendry is a truly responsive and responsible partner in our business and has been for over 20 years. I would (and have) recommend his services to everyone.

Les Bell, (CPA, CA, President, Lincoln Heights Ford Sales Ltd.)
Testimonial from Colin Goodfellow - field_5cebff5066bfc

I have used Marie Fraser and her team at Hendry Warren for business, personal and special projects. Deep enough bench strength to cover anything, and small enough to pay attention.

Colin Goodfellow (field_5cebff5066bfc)
Testimonial from Rupert Bonham-Carter - field_5cebff5066bfc

Jacob has been invaluable over the past 18 months in assisting with the incorporation and start-up of my new business venture. I trust Jacob's advice on complicated income tax and HST matters to allow me to focus on what is most important - my business!

Rupert Bonham-Carter (field_5cebff5066bfc)
previous arrowprevious arrow
next arrownext arrow
PlayPause

Interested in Working with HWLLP?

How can we help you achieve your business and financial goals?

Share a few details and we'll schedule a call!

Request a Call