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TSX Surges to New Heights, Extending Winning Streak to Nine Days

The Toronto Stock Exchange (TSX) continues its impressive rally, closing at yet another record high as its winning streak stretches to nine consecutive trading days. The benchmark S&P/TSX Composite Index  rose 0.3% , adding 74.4 points  to settle at 25,971.9 .  This latest surge marks a 2.4% weekly gain , reinforcing investor optimism amid strong performances across multiple sectors. Healthcare led the charge with a 1.2% increase , while Basic Materials saw a slight dip of 0.2% .  Market analysts attribute the sustained momentum to robust corporate earnings, stable commodity prices, and easing trade tensions . With 74% of TSX-listed stocks closing higher , the bullish sentiment remains strong, fueling expectations for continued growth in the coming weeks.  Investors will be watching closely to see if the TSX can maintain its upward trajectory and extend its streak into double digits.
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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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