Category: Tax

Capital Gains & Taxes

The Canadian federal government first introduced capital gains taxes in 1972. Prior to that time, all capital gains were tax-free. Ottawa brought in capital gains taxes, in part, to make up for doing away with inheritance taxes. Since then, Canadians have had to pay tax on a portion of their capital gains, with the rules,…

Federal Budget 2022

This year’s federal budget, titled A Plan to Grow Our Economy and Make Life More Affordable, didn’t introduce measures that directly impact life insurance, living benefits or wealth products. Various proposed tax measures impact both individuals and businesses. With high inflation, a hot housing market and the war in Ukraine as its backdrop, the Liberal-NDP government’s…