smallworlnd on Nostr: Lots of misconceptions about capital gains tax in Canada. A better name for it is the ...
Lots of misconceptions about capital gains tax in Canada.
A better name for it is the capital gains inclusion rate. 66% is the highest inclusion rate that only applies for gains above $250,000 for individuals. If you realized exactly that amount then you'd be paying your marginal tax rate on $165,000 which would be roughly $85,000 if your in the highest income tax bracket.
For corps it's 66% inclusion on all amounts, up from 50% earlier in 2024 but it might get walked back if there's a change in government this fall.
A better name for it is the capital gains inclusion rate. 66% is the highest inclusion rate that only applies for gains above $250,000 for individuals. If you realized exactly that amount then you'd be paying your marginal tax rate on $165,000 which would be roughly $85,000 if your in the highest income tax bracket.
For corps it's 66% inclusion on all amounts, up from 50% earlier in 2024 but it might get walked back if there's a change in government this fall.