CALU submission on changes to capital gains and corresponding measures announced in Budget 2024
Our submission to the Standing Committee on Finance (FINA) on its study of “Changes to Capital Gains and Corresponding Measures Announced in Budget 2024” explains that the true measure of their impact must consider other tax changes that have been implemented since 2018. We also note that the Budget 2024 capital gains proposals add to and exacerbate the already heavy burden of tax complexity and costs for small business owners. Ultimately, we recommend that the federal government commission an expert panel to review the tax rules governing small business taxation with a view to harmonizing the treatment of various types ...
CALU submission on technical tax bill: Trust reporting rules, graduated rate estates and more
CALU submission to Finance Canada on changes to various provisions of the Income Tax Act contained in technical amendments released on August 12, 2024 including trust reporting rules, graduated rate estates and more. download now
CALU submission on legislative proposals relating to Budget 2024: Employee ownership trusts (EOT)
CALU submission to Finance Canada on the capital gains exemption on qualifying sales to employee ownership trusts (EOT) provided in legislative proposals relating to Budget 2024 released on August 12, 2024. download now
CALU submission in advance of the 2025 federal budget
CALU’s pre-budget submission to the Standing Committee on Finance in advance of Budget 2025. It recommends that the federal government: Commission an expert panel to review the tax rules governing small businesses Study the decline in self-employment since 2019 Update RRSP and RRIF rules to enhance the retirement income system for younger and older Canadians Provide a 35 percent refundable tax credit relating to the cost of dental care programs for employees of small businesses Develop pharmacare using the same general approach as the federal dental plan: supporting those without prescription drug coverage while leaving workplace benefit plans intact ...
Letter to Finance Canada on capital gains exemption for Employee Ownership Trusts
In this letter to the Department of Finance, we recommend amendments to legislation providing a capital gains exemption of up to $10 million to individuals who sell shares of a corporation to an Employee Ownership Trust (EOT). Download now
CALU Letter to Finance Canada re Capital Gains Inclusion
In this letter to the Department of Finance, we share our views and recommendations relating to the proposals in Budget 2024 to increase the inclusion rate for capital gains from one half to two thirds for all taxpayers, with an annual exemption of $250,000 for individuals other than trusts. Download now
Letter to Parliamentary Committees: Intergenerational Business Transfers
Letters to the Standing Senate Committee on National Finance and the Standing Committee on Finance of the House of Commons on the issue of intergenerational business transfers in the context of its study of the subject matter of Bill C-59, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 21, 2023 and certain provisions of the budget tabled in Parliament on March 28, 2023. Lettres au Comité sénatorial permanent des finances nationales et au Comité permanent des finances (FINA) de la Chambre des communes sur la question des transferts intergénérationnels d'entreprises dans ...
CALU pre-budget submission to the Department of Finance for “Let’s Talk Budget 2024”.
CALU’s pre-budget submission to the Department of Finance in advance of Budget 2024. It recommends that the federal government:Support the successful transition of small businesses to family membersEnsure the self-employed remain an important pillar of employment and economic growthEnhance the retirement income system for younger and older CanadiansMaintain and enhance the availability of dental plans offered by small businesses View the submission
CALU submission to Finance on draft legislative proposals relating to short-term rentals
CALU comments on draft legislative proposals relating to short-term rentals released by the Department of Finance on December 20, 2023. View the submission
CALU Submission to Finance on Underused Housing Tax (UHT)
Read our response to the consultations by Finance on the Underused Housing Tax (UHT) including our recommendation that the exemption from filing requirements for exempt Canadian entities be made effective for 2022, and not 2023 as currently proposed. View the submission
