Canada: Capital Gains Tax

For Canadian tax planners and trust beneficiaries, the “21-year rule” is a critical milestone.

The flipped property rules in the federal Income Tax Act (“ITA”) have raised many questions regarding property transfers since they came into effect. Although these rules were initially designed to curb property flipping, they are broad in scope and can sometimes affect non-speculative transactions, as discussed in a previous article: Navigating the federal flipped property rule. In response, the Canada Revenue Agency (“CRA”) has since published a number of interpretation bulletins clarifying the rules, including their interaction with property transfers under section 85 of the ITA.

However, these discussions do not necessarily signal that most founders should relocate. Remaining a Canadian company offers companies and founders several advantages, which are discussed in detail in this bulletin.

In the rapidly evolving landscape of digital assets, understanding cryptocurrency taxation in Canada is crucial for entrepreneurs, professionals, investors, accountants, and crypto enthusiasts aiming to navigate CRA crypto tax rules effectively.

Canadian taxpayers are currently afforded a cumulative lifetime exemption on capital gains realized from the sale of qualified small business corporation shares and on a qualified farm property or a qualified fishing property.

À l'occasion de notre récente tournée Perspectives fiscales de McCarthy Tétrault, des membres du groupe national de droit fiscal de McCarthy Tétrault ont animé une discussion pratique sur l'évolution du paysage...

The 2025 federal budget significantly reshapes cryptocurrency taxation in Canada, with important implications for both individuals and businesses. The measures reflect a broader federal strategy to close compliance gaps and strengthen tax administration around digital assets.

Canada does not have a gift tax, unlike other jurisdictions, notably the United States. However, there are situations in which making a gift in Canada can still result in tax consequences.

Over the past decade, Jamaica has built a multi-layered financial protection system to manage natural disasters. This strategy is now being tested after Hurricane Melissa devastated the island, causing widespread destruction to homes, roads, and infrastructure.