A Fresh Look at the Capital Gains Rollover Provision – Updated

This “Tax Byte” updates a previous version published on February 13, 2025, to reflect the election of a new federal government. This article focusses on a lesser-known planning option, the capital gains rollover provision of the Income Tax Act (ITA), by reviewing the main elements of the measure and discussing proposals to expand its scope. It concludes with commentary on the urgent need for the new administration to review and rationalize provisions of the ITA that apply to small businesses owners considering the Liberal party’s promise to conduct an expert review of the corporate tax system.