For the average retirement investor with a good tax strategy, there are tools available to avoid paying a capital gains tax at any rate.
Erin Bury, CEO of Willful, joins BNN Bloomberg to discuss protecting assets from capital gains tax upon death.
The most tax-efficient way to invest is through a tax-free savings account , where capital gains - or any income - are never taxed. Assuming Ottawa continues to expand the TFSA contribution limit, long-term investors will have a significant tax shelter to grow their savings.Originally billed as a short-term savings vehicle for things like vacations or home renovations, the TFSA has grown into a retirement tax-planning tool that can complement a registered retirement savings plan .
Both RRSPs and TFSAs can hold just about any type of investment including stocks traded on major exchanges, bonds, mutual funds or exchange-traded funds . A capital gains tax, however, is applied to the sale of any additional properties such as cottages or rental properties. If the capital gain exceeds $250,000, the inclusion rate is now two-thirds.
Dale Jackson Capital Gains Tax Retirement Investing
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