We are a separate corporate entity established with an appropriate level of separation from the Nation government, but we offer partners an array of tax efficiencies and other benefits based on the Nation's sovereign status, including federal tax immunity, state income tax exemption,
federal capital gains tax exemption, state sales tax exemption and preferential debt financing and government contracting preferences, among others.
Not exact matches
«The Toronto Real Estate Board will be closely monitoring how the recent changes to
federal mortgage lending guidelines and
capital gains tax exemption rules impact the housing market in the Greater Toronto Area,» Jason Mercer, the board's director of market analysis, said in a statement Wednesday.
New regulations included
federal measures to tighten mortgage insurance rules, expand stress tests, and improve
tax fairness around
capital gains exemptions as well as changes to the Canada Mortgage and Housing Corporation's securitization programs; B.C.'s new 15 % land transfer
tax on foreign nationals in Metro Vancouver and introduction of the Home Owner Mortgage and Equity program to provide interest - free loans to first - time buyers, along with Vancouver's introduction of a
tax on vacant homes; and Ontario's doubling of the land - transfer
tax rebate for first - time buyers, combined with a
tax increase on homes over $ 2,000,000.
Assuming that Larry and Penny get $ 1.2 million in 2015 dollars for their business, and that they can shelter it by dividing it in half and protecting the taxable
gain over their adjusted cost base of $ 350,000 for each partner, then the present
federal capital gains exemption would mean that they have no
tax to pay on the sale.
In BC, $ 750,000 of
capital gains exemption results in combined
federal and provincial
tax savings of $ 164,000 (the
tax savings in other provinces will differ).
The
federal government has more than enough money to raise personal
taxes, especially from high income individuals, by reducing some of the following: the small business
tax deduction ($ 3.2 billion), lifetime
capital gains exemption ($ 600 million), donation credit related to gifted securities ($ 52 million), flow - through shares ($ 125 million) and bringing
capital gains tax rates in line with the top
tax rate on dividends ($ 1.25 billion).
«Beyond that, clients have all the
exemptions and deductible expenses, some portion of their total receipts are
taxed at (lower) dividend or
capital gains rates, muni bond payments are not
taxed by the
federal government at all (unless you are in the AMT), losses are harvested out of the investment portfolio, and many advisory clients have a host of other lines filled out on their
tax forms that blunt Uncle Sam's fingers in your client's wallet.»