Join our host Bob as he discusses the 2024 Canadian federal budget's impact on entrepreneurs, focusing on the new 67% capital gains tax inclusion rate. He explains how this change affects personal and business tax rates and shares tips on managing capital gains taxes, including the new $250,000 exemption and capital gains reserves.

Learn how to avoid the increased tax burden with strategic planning before the June 25, 2024, deadline. Bob also highlights other incentives in the budget, like the increased lifetime capital gains exemption and the employee ownership trust tax exemption, aimed at supporting small business owners.

Tune in to this episode for a concise guide on navigating these tax changes, with practical advice to help entrepreneurs reduce their tax liability. Don't miss out—subscribe and share to stay informed on the latest tax-saving strategies for 2024.







Episode Highlights:
00:00 Welcome to The Wealthy Entrepreneur Podcast
04:18 Tax Implications of Selling Assets, Including Real Estate and Businesses, With New Tax Rate Increase
08:47 Capital Gains Tax Changes and Planning Opportunities
15:20 Tax Incentives for Entrepreneurs, Including Lifetime Capital Gains Exemption and New Taxable Capital Gains Inclusion Rate
19:00 Canadian Budget's Tax Incentives for Business Owners







Resources:
Visit the Million Dollar Year Website: https://www.milliondollaryear.ca/
Download The Wealthy Entrepreneur (digital book) for FREE: https://www.milliondollaryear.ca/wealthy-entrepreneur/opt-in
Like our Facebook Page at https://www.facebook.com/milliondollaryearprogram
Join The Wealthy Entrepreneur Community for FREE at https://www.facebook.com/groups/gauvreaucpa

For more podcast episodes, subscribe to our Youtube Channel at https://www.youtube.com/@milliondollaryearprogram.

Let’s continue to work on becoming a Wealthy Entrepreneur!

Join our host Bob as he discusses the 2024 Canadian federal budget's impact on entrepreneurs, focusing on the new 67% capital gains tax inclusion rate. He explains how this change affects personal and business tax rates and shares tips on managing capital gains taxes, including the new $250,000 exemption and capital gains reserves.
Learn how to avoid the increased tax burden with strategic planning before the June 25, 2024, deadline. Bob also highlights other incentives in the budget, like the increased lifetime capital gains exemption and the employee ownership trust tax exemption, aimed at supporting small business owners.
Tune in to this episode for a concise guide on navigating these tax changes, with practical advice to help entrepreneurs reduce their tax liability. Don't miss out—subscribe and share to stay informed on the latest tax-saving strategies for 2024.
 
 
 
Episode Highlights:
<ul>
<li>00:00 Welcome to The Wealthy Entrepreneur Podcast</li>
<li>04:18 Tax Implications of Selling Assets, Including Real Estate and Businesses, With New Tax Rate Increase</li>
<li>08:47 Capital Gains Tax Changes and Planning Opportunities</li>
<li>15:20 Tax Incentives for Entrepreneurs, Including Lifetime Capital Gains Exemption and New Taxable Capital Gains Inclusion Rate</li>
<li>19:00 Canadian Budget's Tax Incentives for Business Owners</li>
</ul>
 
 
 
Resources:
<ul>
<li aria-level="1">Visit the Million Dollar Year Website: <a href="https://www.milliondollaryear.ca/">https://www.milliondollaryear.ca/</a> </li>
<li aria-level="1">Download The Wealthy Entrepreneur (digital book) for FREE: <a href="https://www.milliondollaryear.ca/wealthy-entrepreneur/opt-in">https://www.milliondollaryear.ca/wealthy-entrepreneur/opt-in</a> </li>
<li aria-level="1">Like our Facebook Page at <a href="https://www.facebook.com/milliondollaryearprogram">https://www.facebook.com/milliondollaryearprogram</a> </li>
<li aria-level="1">Join The Wealthy Entrepreneur Community for FREE at <a href="https://www.facebook.com/groups/gauvreaucpa">https://www.facebook.com/groups/gauvreaucpa</a> </li>
</ul>
For more podcast episodes, subscribe to our Youtube Channel at <a href="https://www.youtube.com/@milliondollaryearprogram">https://www.youtube.com/@milliondollaryearprogram</a>.
Let’s continue to work on becoming a Wealthy Entrepreneur!

Introducing The Wealthy Entrepreneur Podcast, where we unravel the Profit Simple framework, turning your business's vision into a roadmap for financial success. Join us as we provide simple yet powerful episodes for extraordinary results and financial clarity. Say goodbye to confusion and hello to a journey towards financial freedom!

Introducing The Wealthy Entrepreneur Podcast, where we unravel the Profit Simple framework, turning your business's vision into a roadmap for financial success. Join us as we provide simple yet powerful episodes for extraordinary results and financial clarity. Say goodbye to confusion and hello to a journey towards financial freedom!

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