The changes that have been announced to capital gains taxes have some Canadians wondering if they should give or sell properties to their adult children now to avoid higher taxes in the future.  They may also be thinking about selling some of those assets to their kids at a discount.  They believe this will give them 2 benefits.  1) that they will give their child a deal on a property and 2) they can lower their own tax bill.

In this video, I am going to talk about the risks of selling assets to your kids at a discount. Specifically, the potential for double taxation.  I will begin with introducing a hypothetical situation.   Then, I talk about how double-taxation occurs. Then I close with outlining 3 alternatives that may make the transfer of that asset to your children more smooth and tax efficient.