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Unbeatable Boxing Day Deals in Canada 2024: Shop the Best Sales from Top Retailers!

Boxing Day 2024 is here, and it's time to shop the year's best deals across Canada!  From tech gadgets to winter apparel, major retailers like Amazon, Best Buy, Walmart, and more are offering incredible discounts. Whether you missed out on a Christmas gift or need to stock up on essentials, this is your chance to score big savings. Amazon Canada is leading the charge with discounts of over 70% on a wide range of products, including must-have tech, personal care essentials, and small kitchen appliances. Best Buy Canada is also offering substantial savings on smartwatches, 4K TVs, laptops, and more. Walmart Canada has deals on top brands like PlayStation, Apple, and LG, with savings up to 60%. For fashion enthusiasts, adidas is offering up to 60% off on sneakers and apparel, while Abercrombie & Fitch** has up to 30% off select styles.  Coach Outlet is providing up to 70% off on must-have bags and wallets. Don't miss out on these amazing deals! Start your new year off on t...
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Understanding Capital Gains Tax Changes for Inherited Properties


The Canadian federal government recently proposed changes to the capital gains tax, affecting various assets, including real estate. Let’s explore how these changes impact inherited properties.

1. Primary Residence Exemption

  • Scenario: If you inherit your parents’ primary home (the only property they own), it remains exempt from capital gains tax.
  • Explanation: The 2024 budget maintains a capital gains exemption for people selling their primary residence. When your parents pass away, their primary home is considered “sold” to you as the beneficiary. As a result, there are no capital gains taxes due because of this exemption.

2. Investment Properties and Vacation Homes

  • Scenario: If your parents own an investment property or vacation house (not their primary home), the “sale” that occurs upon their passing will include taxable capital gains if the property has accrued value.
  • Responsibility: Estate taxes cover these capital gains, and you, as the inheritor, won’t have that liability yourself.

3. Selling an Inherited Primary Residence

  • Scenario: If you decide to sell your parents’ primary residence after inheriting it, there will be a taxable capital gain if it generates a profit.
  • Consideration: The inclusion rate for capital gains above $250,000 is now 67%, meaning two-thirds of gains beyond this threshold are taxable.

Remember, while these changes may impact your financial planning, consulting a tax expert or lawyer is essential to navigate the specifics of your situation.


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