Starting June 25, 2024, the federal budget will bring some changes to the capital gains tax rules. Right now, when you sell an asset, like a rental property or a cottage, only half of the capital gain is taxable. But come June, for gains over $250,000, two-thirds will be taxable. And if you own a trust or corporation, this new two-thirds rule will apply to all gains, no exceptions. So, what does this mean for you? If you’re sitting on some substantial unrealized gains, it might be time... [read more]