The lifetime capital gains exemption (LCGE) is one of the key tax planning advantages available to small business owners, farmers, and fishers. In 2021, it can exempt from tax up to $892,218 of capital gains realized on the sale of shares of a qualified small business corporation and up to $1 million of capital gains realized on the sale of shares of a family farm or fishing corporation.
In response to the COVID-19 pandemic, employers have embraced an environment where employees work from home. With the opportunity to work from home, some Canadians are taking the opportunity to work from anywhere. For some that means working from the cottage or working from a foreign location. Before you switch from working from home to a location of your choice, there are a few things that you should consider.
An important part of financial planning is making sure that you have an estate plan that meets your personal needs. A key component of any well constructed estate plan is to make sure that you have an up to date power of attorney for financial decisions (referred to as a “protection mandate” in Quebec).