The 2024 Federal Budget has been released. Along with some expected measures on housing affordability and the cost of living, Budget 2024 proposes to increase the capital gains inclusion rate and includes some other tax measures of note.
Four key takeaways from Budget 2024 for our clients:
- Capital gains inclusion rate increased to 66.67%
- Expanded tax shelter on the sale of a business
- New and ongoing housing affordability measures
- Updates to previously proposed changes to the Alternative Minimum Tax
The details are outlined in the Wellington-Altus 2024 Federal Budget commentary in the attachment below. Please contact Maili Wong at 778-655-2411 or Dana Brooks at 403-778-0508 with any questions you may have.
If you have any questions about how this relates to you or your investment portfolio and financial plan, please give us a call at 778 655 2410 or email us at thewonggroup@wellington-altus.ca
Sincerely,
Maili Wong, CFA, CFP, FEA
Senior Portfolio Manager & Senior Wealth Advisor
Wellington-Altus Private Wealth Inc.
Board Director
Wellington-Altus Financial Inc.
