Taxation Slide Show

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Conditions For Lifetime Capital Gains Exemptions (LCGE)

  • Must be held personally

  • Can be of any age including minors

  • Own Shares for at least 2 yrs

  • 90% of entity’s assets are active

  • Asset Use Test

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Asset Use Test

More than 50% of assets have been used in business in past 2 years

3
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Qualified Farm Property Under LCGE

  • Livestock

  • Cash Crop

  • Tree Farming

  • Fishery

  • Dairy Quota

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Conditions for LCGE & Farming

  • Primary income must be from farming

  • Doesn’t have to be farmed by buyer

  • Can apply to shares of a farm or personal ownership