January tax news: Claiming capital gains exemptions, reporting assets outside Canada–and more
CLAIMING YOUR CAPITAL GAINS EXEMPTION ON THE SALE OF SHARES The Lifetime Capital Gains Exemption (LCGE) is an incredibly valuable tax exemption. Every individual is entitled to this exemption and it can currently (for 2024) exempt a gain of up to $1,016,836 (the amount is indexed to inflation each year). In Ontario for example, the […]
