Capital gains tax lifetime exemption

A large part of business succession planning is about tax. A business owner selling his business (whether by outright sale or by estate freeze) wants to make sure that he or she has set up a plan that minimizes the tax that will have to be paid.

For sellers of small businesses, a useful thing to keep in mind is the capital gains exemption that is available. A Canadian business owner can over a lifetime shelter up to $750,000 realized from the sale of the business.  I believe this particular exemption is best explained by an accountant, so I'm linking to a site by Janet Nixon, CGA, which has a good discussion of the exemption. Click here to read it.