What's new for capital gains

Lifetime capital gains exemption limit

For dispositions in 2021 of qualified small business corporation shares, the lifetime capital gains exemption (LCGE) limit has increased to $892,218. For more information, see What is the capital gains deduction limit?

Guidance on affidavits and valuations (Bill C-208)

As of June 2021, changes to the Income Tax Act have altered the tax treatment of family transfers of shares in a qualified small business corporation and shares of the capital stock of a family farm or fishing corporation. For more information, see Affidavits and valuations for transfer of small business, family farm or fishing corporation (Bill C-208).

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