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North American Financial 15 Split Corp T.FFN

Alternate Symbol(s):  FNCSF

North American Financial 15 Split Corp. is a mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends, the amount of which is fixed on an annual basis and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.


TSX:FFN - Post by User

Comment by CDNINV1on Apr 16, 2024 4:58pm
150 Views
Post# 35992392

RE:Troubling Budget Headlines

RE:Troubling Budget HeadlinesPOSTED ON CANADA .CA

Budget 2024 proposes an increase in taxes on capital gains on the wealthiest 0.13 per cent.

To make Canada's system more fair, the inclusion rate—the portion of capital gains on which tax is paid—for capital gains for individuals with more than $250,000 in capital gains in a year will increase from one-half to two-thirds. Individuals will continue to only pay tax on 50 per cent of any capital gains up to $250,000 per year.

The inclusion rate will also increase to two-thirds for all capital gains realized by corporations and trusts.

The new rules will apply to capital gains realized on or after June 25, 2024.

For 99.87 per cent of Canadians, personal income taxes on capital gains will not increase.

Next year, 28.5 million Canadians are not expected to have any capital gains income, and 3 million are expected to earn capital gains below the $250,000 annual threshold. Only 0.13 per cent of Canadians with an average income of $1.42 million are expected to pay more personal income tax on their capital gains in any given year.

About 12 per cent of Canada's corporations would face the higher inclusion rate on their capital gains.

Middle class Canadians will continue to benefit from the $250,000 annual threshold, tax-free savings accounts, the principal residence exemption, and exemptions for registered pension plans.

Capital gains from principal residences will remain tax-free to ensure Canadians do not pay capital gains taxes when selling their home. Any amount you make when you sell your home will remain tax-free.

Capital gains within a Registered Retirement Savings Plan, Tax-Free Savings Account, Tax-Free First Home Savings Account, or other registered savings vehicle will remain tax-free. Capital gains within a registered pension plan and the Canada Pension Plan and Quebec Pension Plan will remain tax-free. Capital gains for individuals up to $250,000 from the sale of cottages, investment properties or stocks beyond the limits of tax-sheltered savings vehicles will continue to benefit from the current 50 per cent inclusion rate.

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