A one-time capital gain can trigger alternative minimum tax even for average Canadians

1 week ago 5

Rommie Analytics

Very few Canadians pay AMT under the new rules, and even high-income Canadians may not pay AMT if their only sources of income are fully taxable employment.

Most taxpayers will likely never have to worry about the dreaded alternative minimum tax (AMT) as it generally only affects high-income Canadians. But AMT does occasionally arise for more modest income earners who realize a one-time capital gain on the sale of their business, vacation home or on an income property. A Montreal taxpayer found this ou...

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