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Claim Your Share: Navigating the $500-Million Bread Price-Fixing Settlement

  Canadians who purchased packaged bread between January 1, 2001, and December 31, 2021 , may be eligible for compensation from a $500-million class-action settlement . This lawsuit accused major grocery chains, including Loblaw Companies Ltd. and George Weston Ltd. , of participating in a price-fixing scheme that artificially inflated bread prices. Who Can Apply? Eligible claimants include individuals and businesses that bought packaged bread in Canada during the specified period. The settlement covers most packaged bread products , but excludes fresh in-store baked goods, artisan loaves, and frozen bread. How to File a Claim Once the settlement process is finalized, an online claims porta l will be available for submissions. Claimants will need to provide details about their bread purchases, though proof of purchase is not required for claims up to $25 . Those who previously received a $25 Loblaw gift card  in 2018–2019 can still apply, but the gift card amount will be deduc...
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Understanding Capital Gains Tax Changes for Inherited Properties


The Canadian federal government recently proposed changes to the capital gains tax, affecting various assets, including real estate. Let’s explore how these changes impact inherited properties.

1. Primary Residence Exemption

  • Scenario: If you inherit your parents’ primary home (the only property they own), it remains exempt from capital gains tax.
  • Explanation: The 2024 budget maintains a capital gains exemption for people selling their primary residence. When your parents pass away, their primary home is considered “sold” to you as the beneficiary. As a result, there are no capital gains taxes due because of this exemption.

2. Investment Properties and Vacation Homes

  • Scenario: If your parents own an investment property or vacation house (not their primary home), the “sale” that occurs upon their passing will include taxable capital gains if the property has accrued value.
  • Responsibility: Estate taxes cover these capital gains, and you, as the inheritor, won’t have that liability yourself.

3. Selling an Inherited Primary Residence

  • Scenario: If you decide to sell your parents’ primary residence after inheriting it, there will be a taxable capital gain if it generates a profit.
  • Consideration: The inclusion rate for capital gains above $250,000 is now 67%, meaning two-thirds of gains beyond this threshold are taxable.

Remember, while these changes may impact your financial planning, consulting a tax expert or lawyer is essential to navigate the specifics of your situation.


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