Your Business Unleashed Medical Series: Asset Sale vs. Share Sale and the LCGE, What You Need to Know Before Selling Your Practice
Are you a medical professional thinking of selling your practice? In this episode of Your Business Unleashed, host Clayton Achen sits down with valuation expert Gord McFarlane to unpack the critical differences between an asset sale and a share sale, and why this distinction could mean hundreds of thousands in tax savings.
They explore how Canada's Lifetime Capital Gains Exemption (LCGE)—now at $1.25 million per individual—can be a powerful tax tool when selling shares of a professional corporation. But qualifying for the LCGE isn’t automatic. You’ll hear real-world examples, common pitfalls (like excess investment assets or foreign ownership), and actionable tips for ensuring your practice is set up to benefit.
Whether you’re an optometrist, chiropractor, or veterinarian, this episode is packed with must-know insights on valuation, tax strategy, and proper pre-sale planning.
🎧 Tune in to learn:
- Why buyers prefer asset sales but sellers benefit from share sales
- How to qualify for the LCGE (and avoid losing it)
- The role of “purification” and working capital in tax planning
- How professionals can multiply exemptions with family members
If you’re preparing to sell, don’t miss this episode. A little planning can go a very long way.
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