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Tax Views: Capital gains exemption for corporate shares | Vern Krishna

Friday, May 12, 2017 @ 12:16 PM | By Vern Krishna

The Canadian income tax system provides substantial advantages for small businesses to grow, and their owners to retire upon sale of the business. The rules, however, are written in tax language, which has a different grammatical style than ordinary English and should be parsed with care only by professionals trained in the language.

Individuals resident in Canada may claim an exemption from certain types of capital gains, and subject to indexed lifetime limits. It is also available for part year residents who take or give up...