Lifetime Capital Gains Exemption
The Lifetime Capital Gains Exemption (LCGE) applies to:
- Qualified Small Business Corporation Shares
- Qualified Farm Property
- Qualified Fishing Property
For 2014, the LCGE increased to $800,000 and is increasing annually by an indexed amount.
The 2015 Federal Budget increased the maximum LCGE for qualified farm or fishing property dispositions on or after April 21, 2015 to the greater of:
- $1 million and
- The indexed Lifetime Capital Gains Exemption applicable to capital gains realized on the disposition of qualified small business corporation shares.
For details on whether this exemption applies to you, please click on this link.