2024 Lifetime Capital Gains Exemption increased to $1,250,000

The budget will increase the Lifetime Capital Gains Exemption (LCGE) to $1.25 million (from $1,016,836) realized on the disposition of qualified small business corporation shares and qualified farm or fishing property, effective for dispositions that occur on or after June 25, 2024.

Indexation to increase the LCGE with inflation will not occur for the 2025 calendar year and will resume in 2026.

What is the Lifetime Capital Gains Exemption?

The LCGE is a benefit that Canadian private company owners receive (in exchange for the immense risks that they take to create 97.9% of Canada’s jobs) when they sell shares of their business at a gain.

Learn more about the LCGE here.

How do I claim the Lifetime Capital Gains Exemption?

Step 1: Incorporate your business.

Step 2: Hire Achen Henderson CPAs to be your accountant and help you make sure everything is setup and maintained properly, and to help you grow your business.

Step 3: Grow your business.

Step 4: Sell the shares of your business, with Achen Henderson CPAs at your side!

Are you interested in learning more? We’d love to learn about your business and your goals.