Federal Government Backs Down on Changing the Capital Gain Exemption Rules

During Small Business Week the federal government announced that it was abandoning the proposed changes to the use of the capital gain exemption. Tax preparers are pleased with this change.

We no longer have to figure out how to restructure most of the family trusts in the country. We no longer have to listen to all of that talk about deemed dispositions, etc., and having children sell their shares in the family business before the end of the year.

To be fair, we should congratulate our politicians for listening to the stakeholders and avoiding implementing tax policies that would have been a nightmare. So contact your MP and say thanks.



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