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Tax Matters: How will Alternative Minimum Tax (AMT) Changes Affect High Income Canadians in 2024? - with Kim GC Moody

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Manage episode 401083671 series 2786045
Content provided by Yatin Chadha. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Yatin Chadha or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Today I welcome Kim GC Moody, one of our country's top tax experts, to discuss AMT (Alternative Minimum Tax) changes for 2024 & beyond and the potential implications for high income earners in Canada.
The podcast has 3 segments:
1) AMT history & mechanics
2) AMT changes
3) AMT Scenarios
Discussion Points:
AMT basics (0:47)
Table of contents (2:07)
Kim Moody's bio (2:41)
Intro (3:58)
AMT intro, history, & mechanics (6:33)
How are tax decisions made in Canada? (12:12)
How has AMT changed in 2024? (15:45)
Are more people leaving Canada due to excess tax? (20:00)
AMT - there is a provincial part, no impact on corporations (24:32)
Impact of AMT on capital gains (25:20)
Impact of AMT on carrying forward capital losses (27:08)
No impact on eligible dividends (27:55)
Impact of AMT on lifetime capital gains exemption (28:35)
Impact of AMT on charitable gifting (30:05)
Impact of AMT on stock options (36:12)
Impact of AMT on trusts (37:14)
Impact of AMT on carrying forward interest charges for rental properties (38:00)
AMT calculations for specific scenarios (39:34)

  • capital gains
  • capital gains + carry forward capital loss
  • capital gains, eligible dividends, + charitable donation

What % of people will be impacted by AMT? (47:42)
Closing remarks (50:15)
Kim Moody:
website: https://moodysprivateclient.com/
LinkedIn: https://www.linkedin.com/in/kimgcmoody/
email: [email protected]
Kim's podcast: https://kimgcmoody.podbean.com/
Yatin Chadha:
[email protected]
https://www.linkedin.com/in/yatin-chadha-29074b109/

  continue reading

94 episodes

Artwork
iconShare
 
Manage episode 401083671 series 2786045
Content provided by Yatin Chadha. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Yatin Chadha or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Today I welcome Kim GC Moody, one of our country's top tax experts, to discuss AMT (Alternative Minimum Tax) changes for 2024 & beyond and the potential implications for high income earners in Canada.
The podcast has 3 segments:
1) AMT history & mechanics
2) AMT changes
3) AMT Scenarios
Discussion Points:
AMT basics (0:47)
Table of contents (2:07)
Kim Moody's bio (2:41)
Intro (3:58)
AMT intro, history, & mechanics (6:33)
How are tax decisions made in Canada? (12:12)
How has AMT changed in 2024? (15:45)
Are more people leaving Canada due to excess tax? (20:00)
AMT - there is a provincial part, no impact on corporations (24:32)
Impact of AMT on capital gains (25:20)
Impact of AMT on carrying forward capital losses (27:08)
No impact on eligible dividends (27:55)
Impact of AMT on lifetime capital gains exemption (28:35)
Impact of AMT on charitable gifting (30:05)
Impact of AMT on stock options (36:12)
Impact of AMT on trusts (37:14)
Impact of AMT on carrying forward interest charges for rental properties (38:00)
AMT calculations for specific scenarios (39:34)

  • capital gains
  • capital gains + carry forward capital loss
  • capital gains, eligible dividends, + charitable donation

What % of people will be impacted by AMT? (47:42)
Closing remarks (50:15)
Kim Moody:
website: https://moodysprivateclient.com/
LinkedIn: https://www.linkedin.com/in/kimgcmoody/
email: [email protected]
Kim's podcast: https://kimgcmoody.podbean.com/
Yatin Chadha:
[email protected]
https://www.linkedin.com/in/yatin-chadha-29074b109/

  continue reading

94 episodes

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