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ARTICLE · 13 SEPTEMBER 2024

Finance Releases Revised Rules For Capital Dividend Account (CDA) Computations

Miller Thomson
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Budget 2024 announced an increase to the capital gains inclusion rate from one-half to two-thirds for all corporations and trusts...

CanadaTax
Justin Ng
Justin Ng
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Budget 2024 announced an increase to the capital gains inclusion rate from one-half to two-thirds for all corporations and trusts, and an increase to two-thirds on capital gains realized by individuals on or after June 25, 2024 in excess of an annual $250,000 threshold.

On June 11, 2024, Parliament passed a Notice of Ways and Means Motions (“NWMM”) which included amendments to the Income Tax Act  (Canada) (the “Tax Act”) to implement the proposed increase to the capital gains inclusion rate and consequential amendments. On August 12, 2024, the Department of Finance released legislative proposals relating to various tax matters, including amendments to the capital gains inclusion rate package contained in the NWMM (the “August 12 Proposals”).

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