E38: Federal Budget Breakdown with Ali Spinner

On Tuesday, April 16, the government of Canada revealed its 2024 Federal Budget (https://budget.canada.ca/2024/home-ac...) with major changes that impact investors, savers and business builders - most significant of which being an increase to the capital gains inclusion rate.



In this "breaking news" episode of The Unlimited Podcast, we bring back the "Tax Ninja", Alexandra (Ali) Spinner (https://www.crowe.com/ca/crowesoberma...) , to help break down the key changes and provide some guidance for immediate and long-term actions and plans. Ali can also be seen discussing the Federal Budget changes on BNN Bloomberg (https://www.bnnbloomberg.ca/video/can...) .



Key changes covered include:




1. The increase to the capital gains inclusion rate


2. The increase to the Lifetime Capital Gains Exemption


3. The introduction of the Canadian Entrepreneurs Incentive


4. Changes to the Alternative Minimum Tax (AMT)




Ali is a Partner in Crowe Soberman’s Tax Group, a member of the firm’s Management Committee, and leader of the High-Net-Worth tax practice. Ali has more than 20 years of experience in public accounting and tax and estate planning. Her practice focuses on helping wealthy families and high-performance professionals structure their affairs in a tax-efficient manner. Ali’s broad technical expertise includes domestic, cross-border, and international tax matters for individuals, trusts, estates, and corporations. She is experienced in complex estate and trust planning, post-mortem planning, corporate reorganizations, and the preparation of Canadian tax returns and compliance forms. In 2022, she was elected as a Fellow of the Chartered Professional Accountants of Ontario.








Timestamps



0:00 Disclaimer & Intro



2:15 Highlights of the budget changes



13:00 Why change capital gains tax rates?



20:54 Impacts on the general public



29:44 Who will feel the largest impact?



34:01 Canadian departure tax



36:11 Exemptions, incentives, and philanthropy



42:21 Outro



43:33 Ginsler Wealth's full theme song