Million Dollar Year by Gauvreau
Episode 45: Strategic Insights: Adapting to the 2024 Federal Budget Changes

Episode 45: Strategic Insights: Adapting to the 2024 Federal Budget Changes

budget capital gains federal budget podcast taxes Apr 23, 2024

Join our host Bob as he discusses the 2024 Canadian federal budget's impact on entrepreneurs, focusing on the new 67% capital gains tax inclusion rate. He explains how this change affects personal and business tax rates and shares tips on managing capital gains taxes, including the new $250,000 exemption and capital gains reserves.

Learn how to avoid the increased tax burden with strategic planning before the June 25, 2024, deadline. Bob also highlights other incentives in the budget, like the increased lifetime capital gains exemption and the employee ownership trust tax exemption, aimed at supporting small business owners.

Tune in to this episode for a concise guide on navigating these tax changes, with practical advice to help entrepreneurs reduce their tax liability. Don't miss out—subscribe and share to stay informed on the latest tax-saving strategies for 2024.


Episode Highlights:

  • 00:00 Welcome to The Wealthy Entrepreneur Podcast
  • 04:18 Tax Implications of Selling Assets, Including Real Estate and Businesses, With New Tax Rate Increase
  • 08:47 Capital Gains Tax Changes and Planning Opportunities
  • 15:20 Tax Incentives for Entrepreneurs, Including Lifetime Capital Gains Exemption and New Taxable Capital Gains Inclusion Rate
  • 19:00 Canadian Budget's Tax Incentives for Business Owners



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