for individuals, trusts and corporations to 66.7 per cent from 50 per cent. The new inclusion rate only applies past a $250,000 threshold for individuals, whereas corporations and trusts are subject to it for all capital gains.
If the property is debt free and is a gift, it can be given to a family member without paying land transfer tax. There is always the issue of whether the owner wants to give up legal control, and there’s also the issue of family assets if there is a future problem with a son-in-law or daughter-in-law.
Essentially, you are doing a break-even analysis on paying a lower capital gains tax now and being out of pocket on those taxes versus whether you would be better to hold on to that money now, but pay a higher tax rate when you eventually sell. Increasing the federal AMT rate from 15 per cent to 20.5 per cent and the basic exemption amount from $40,000 to the start of the second-from-top federal tax bracket, which is $173,206 in 2024. This will be indexed annually.Taxes should not wag the tail of the investment dog
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