58 - Revisiting Capital Gain Investments with Jason Pisesky

PhE is headed to Cancun this February 23 to March 2 for our Health and Wealth Summit! We'd love to have you join: https://www.physempowerment.ca/cancun

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Dr. Kevin Mailo and Dr. Wing Lim welcome Masterclass faculty member Jason Pisesky back to the show to talk about the recent capital gains changes in Canadian tax policy. Jason is a tax expert with KPMG and he breaks down for Wing why the changes sparked widespread concern among professionals, small business owners, and investors. He and Wing examine the actual impacts, where they were felt most, and what the practical implications of the changes are.

The conversation focuses on the government’s decision to increase the capital gains inclusion rate from 50% to two-thirds for amounts exceeding $250,000 annually, meant only to affect the top 0.13% of Canadians. Jason explains that the policy affects those with significant investments, corporations, and trusts, while individuals have some exemptions. The nine-week notice period left people rushing for solutions, leading to a variety of overreactions, like liquidating assets too early, and responses such as corporate stripping. Jason advises caution against unnecessary asset liquidations that could trigger large, immediate tax bills. Despite the initial panic, Jason reassures listeners that the tax increases are manageable for most with proper planning, emphasizing the importance of consulting experts to avoid unnecessary financial losses.

About Jason Pisesky:

Jason is a tax lawyer with an international accounting firm, KPMG. His practice background is extensive and includes personal and corporate tax planning as well as litigation and dispute resolution. Whether you are scaling up your practice or winding it down, proper coordination between a tax lawyer and your accountant can ensure you're doing it right.

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Jason Pisesky:

• Jason Pisesky at KPMG
• Jason Pisesky on LinkedIn

Physician Empowerment:

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• Join the Physician Empowerment Masterclass now
• Website: PhysEmpowerment.ca