What’s In This Email

• Canadian government invests in Futurepreneur

• Capital gains tax: What you need to know

• Monday Motivation

• You’re not broken, you’re just creative

• Notable Spotlight: and/ore

• Notable Plug 🔌 

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Young Entrepreneurs Get a Boost: Canadian Government Invests in Futurpreneur

Calling all ambitious entrepreneurs! The government is investing $60 million in Futurpreneur, an organization dedicated to helping young adults like you launch and grow successful businesses. This is a major step forward for aspiring young entrepreneurs.

Key takeaways

• $60 million government investment in Futurpreneur: This renewed funding strengthens Futurpreneur's ability to provide loans, mentorship, and resources to young entrepreneurs across Canada.

• Support for turning dreams into reality: Futurpreneur's programs go beyond just funding. You'll gain access to mentorship from experienced business leaders and valuable resources to navigate the challenges of starting and growing a business.

• Focus on under-represented groups: Over 40% of businesses supported by Futurpreneur are women-led, and more than 20% are led by Black and/or Indigenous founders. This investment ensures continued support for these important and growing demographics in the business world.

• Filling the retirement gap: With a projected retirement wave of small business owners in the next decade, Futurpreneur is empowering the next generation to take the reins and ensure a strong Canadian economy.

Why This Matters: Struggling to find the resources and guidance to turn your business idea into a reality? Futurpreneur can be your one-stop shop! This government investment is a game-changer for young Canadians who aspire to be their own boss. With increased support for mentorship, funding, and resources, more Canadians can have a shot at achieving success in the world of entrepreneurship.


Read the full article here.

Capital Gains Tax Changes in the 2024 Budget: What You Need to Know

The new federal budget proposes a change to capital gains taxes. But will it impact you? Here's a quick breakdown.

Key takeaways

• What are Capital Gains? It's the profit you make when you sell an investment like a stock, cottage, or property (except your principal residence).

• How are Capital Gains Taxed Now? Currently, only half of your capital gains are taxed.

• What's Changing? The budget proposes increasing the taxable portion of capital gains to two-thirds, but only for profits exceeding $250,000. This applies to individuals and trusts. Corporations will see all capital gains taxed at the two-thirds rate.

• Who Won't Be Affected? This change likely won't impact most Canadians. The government estimates only 0.13% of Canadians with very high capital gains income will see an increase in their tax bill. The sale of your principal residence, small business shares, and farming/fishing property remain exempt (up to a $1.25 million lifetime limit).

• What About Inherited Property? Inheriting a property and then selling it might trigger the higher capital gains tax rate, depending on the profit amount and if it becomes your primary residence. Speak to an expert for tax advice on this scenario.

Why This Matters: This change targets high-income earners and shouldn't impact most homeowners or young investors. Understanding how capital gains taxes work is important for making informed financial decisions, but for most Canadians, this change likely won't affect their day-to-day finances.

Read the full article here.

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and/ore

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Notable Life is Canada for young professionals, entrepreneurs, and culture generators operated by The Notable Group. Notable Daily inspires ideas and sharpens the minds of over 40,000 top-tier professionals in competitive industries.

Disclosure: While we utilize artificial intelligence (AI) to assist with certain aspects of content development, all information provided in our content is thoroughly vetted and edited by our team of humans. We strive to ensure the accuracy and reliability of all information. However, we recommend that readers conduct research or seek professional advice to make informed decisions. This email may contain sponsored content.