What does the increase in the Capital Gains Inclusion Rate mean for me and my family?

What does the increase in the Capital Gains Inclusion Rate mean for me and my family?

Author: Vu Kiet Tran September 21, 2024 Duration: 46:01
You have heard of the new Canadian federal budget that increased the Inclusion Rate on the Capital Gains tax. It finally went into effect on June 25th, 2024. Physicians were given the right to incorporate their practices in lieu of a salary increase. Consequently, many physicians saved their money inside their corporation in the form of retained earnings and then invested it, as a way to save for retirement. Now, with the increase in the Capital Gains Inclusion Rate, this strategy is no longer as efficient. But what about all those physicians who used this strategy for the last 20 years? Is it all lost? Well, if no actions are taken, then "yes".   A few strategies to mitigate this increase exist. Listen to learn about them!   If you want to leave me comments or feedback, please email me at hmfhd2020@gmail.com.

Ever feel like managing your money is a diagnosis you just can't crack? How is my Financial Health, Doc? is a space built specifically for healthcare professionals-from residents to seasoned surgeons-who are experts in the human body but might find their own financial picture a bit blurry. Host Vu Kiet Tran creates candid conversations where the complexities of investing, debt management, and building wealth are broken down without judgment. Here, the often-taboo questions about salary negotiations, side hustles, and planning for a secure future are not just allowed, they’re the entire point. Each episode feels like a consult with a trusted colleague, blending practical business principles with an understanding of the unique pressures and irregular income streams common in medicine. You’ll hear real stories and straightforward strategies that connect the dots between physical well-being and financial fitness. This podcast recognizes that a healthy career requires a solid economic foundation, offering actionable advice to help those who care for others start feeling more confident about caring for their own financial future. Tune in for a dose of clarity that goes beyond the clinic.
Author: Language: English Episodes: 100

How is my Financial Health, Doc?
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