Incorporated Consultant, retained earnings, and lifetime capital gains exemption (LCGE)

I would find an interesting business venture first. Tax optimisations are a mean not an end. What I mean is it’s rarely a good idea to do something just because it’s tax advantageous. You stil have to operate a business, generate enough capital gain to use all your LCGE etc. It takes time and money that could generate other income even if it’s not tax free. That sound like a complete career change.

Using the LCGE would be way down on my list of concern if a client came to me start a new business. I doubt you could invest 500k in a subway and have his value grow to 1,4m$+

I’m new to the field so I might be wrong, it just my opinion.

/r/cantax Thread Parent