With the 2024 changes to capital gains tax, many clients are inquiring about how to update their planning. Understanding this tax hike is crucial to avoid overpaying Revenue Canada. It’s a common misconception among incorporated individuals that when they and their spouse pass away, the only tax payable is on the capital gains on the investments within their corporation. This is incorrect. There are three levels of tax that may occur. First, there is capital gains tax on your corporation’s…