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Business owners learn more about capital gains tax changes

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Tax experts provided information on how changes to the capital gains tax proposed in the 2024 federal budget will impact business owners.

THUNDER BAY – The Thunder Bay Chamber of Commerce hosted an information session on Thursday with tax experts on how business owners will be affected by changes to the capital gains tax.

Held at the Prince Arthur Hotel, the information session included presentations from David Fitzpatrick, partner in Taxation Services with MNP LLP and Jennifer Whelan, partner with BDO Canada LLP. The maximum credit is $2 million, so if someone is able to realize the whole credit they will pay $416,000 less.

 

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