OFA calls for a farm business exemption to the proposed changes to Eligible Capital Property (ECP) provisions outlined in the 2016 Federal Budget. Without an exemption, the sale of quota held in a farm corporation would be taxed under this ECP proposal at the corporate capital gains tax rate, which is approximately 50% in Ontario.
Submissions & Correspondence
OFA submission regarding proposed changes to Eligible Capital Property
Updated: January 18, 2018