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On today’s episode, Jason Pereira will be reviewing the federal budget for 2022, and the reason is that when it came out a couple of days ago, there was a lot to go through. There are 17 key personal, and corporate points that he thinks are worth accounting for. 


Episode Highlights:


3 Key Points:

  1. In the new residential property flipping tax, if you hold a home by home as your principal residence and live in it for less than 12 months before selling it, the principal residence exemption does not apply and qualifies as full income. 
  2. Surrogacy is becoming more of a need in Canada. If you are using a surrogate, you will now be able to cover and claim those expenses under the medical tax revenue in Canada.
  3. In the intergenerational shares transfers process, they are extending the consultation process to figure out how to fix this and hope to have a report by June 17th.


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