If you have clients who put properties into trusts 19 years ago, you have work to do.
Back on February 22, 1994, the federal government eliminated the $100,000 capital gains exemption for individual taxpayers.
CRA cut the capital gains rate to 50% from the prior 75%. But it also nixed a $100,000 lifetime capital gains exemption popular with investors who cashed out stocks they’d planned to sell sooner rather than later.
Read the full article in the May 14, 2013 edition: “Beware the 21-Year Rule“