Boosting Electronic Signature Legitimateness for Nonprofit in Canada

How to eSign a document: electronic signature legitimateness for Nonprofit in Canada

[Music] hello you beautiful entrepreneurs welcome to today's episode of your business Unleashed podcast today we're going to talk about the Canadian entrepreneurs incentive that was announced in the 2024 federal budget um it gives certain entrepreneurs in a very limited number of Industries access to reduce capital gains inclusion rates when they sell their business business so why is this important well the 2024 budget also announced a general increase of capital gains inclusion rates from 50 to 67% and so the new Ci or Canadian entrepreneurs incentive is presumably meant to reduce the impacts of this increase on the sale of shares of small businesses in Canada after the phase in Period which for some reason the Ci's phase in period is a staggering 10 years so if you want to learn more about the capital gains inclusion rate increase from 50 to 67% I've actually recorded a fairly detailed podcast on that um and I'm sure it'll be one of two because we don't yet have legislation so I'll have to do some analysis and record Another podcast when the actual legislation comes down even though this change is set to take effect in three weeks oh boy um so how does the Canadian entrepreneurs incentive work so eligible individuals will get a reduced capital gains inclusion rate of 1/3 so that's only 33% down from 2/3 or 67% on capital gains up to $2 million on the disposition of qualifying small business shares so this reduced inclusion rate is applied to gains that exceed the individual's lifetime capital gains exemption which by the way I've just recorded a podcast on that as well uh because there was a change announced in the 2024 budget so go listen to that so it's reduced by the lifetime capital gains exemption and individuals are still eligible to claim the reduced capital gains inclusion rate of 50% on the next $250,000 of capital gain after their lifetime capital gains exemption and then you and then you claim the Canadian entrepreneurs incentive so you can actually sell your business for quite a bit more than the gains exemption and not be subject to the the 2third capital gains inclusion rate which is set to take effect on June 25th so which Industries are are eligible for the Canadian entrepreneurs incentive I think it's easier to say which Industries are not and professional corporations so me and doctors and people who we need in this country to start businesses uh really really badly they're not eligible uh professional corporations Engineers doctors sorry uh you're not eligible um so reputation or skill workers so anything with a Goodwill business so um you know Goodwill businesses the finance indust IND not eligible the insurance industry not eligible the real estate industry not eligible food and accommodation I don't know why we're going after restaurants and hotels um here like it it we're just it's really really strange the selection process to exclude industries from this the Arts industry I that that one's absolutely flooring given the government who's announced this policy I would have thought they'd be all like they'd really you know the Arts industry has generally been supported here uh so this is that's a weird one to me the recreation industry the entertainment industry the Consulting industry and the personal care industry so all those Industries hairdressers you're out uh food and accommodation you're out if you sell houses you're out if you do anything with insurance you're out if you are an artist you're out um so which Industries are eligible for the Canadian entrepreneurs incentive well construction Tech manufacturing um you know those types of things and so those are eligible so how do you get more um information about the Canadian entrepreneur or entrepreneurs incentive happy to have a chat with you if you're considering selling your business we definitely want to have a robust conversation about timing um what the new lifetime capital gains exemption uh will do and what the new uh capital gains inclusion rate will do combined with this new Canadian entrepreneurs incentive um let's marry it all together for you give us a call here at aen Henderson and thank you so much for listening we'll we'll see you at the next episode