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Also, a new Canadian Entrepreneurs' Incentive, will take effect in the 2025 tax year It reduces the capital gains rate to one-third for a lifetime maximum of $2 million for qualifying businesses
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Turbotax 2025 Calculator App Harlow Prescott. This maximum would increase by $400,000 each year, reaching $2 million in 2029, providing a valuable tax relief opportunity. Claims must be submitted within sixty (60) days of your TurboTax filing date, no later than May 31, 2025 (TurboTax Home & Business and TurboTax 20 Returns no later than July 15, 2025.