Did you or your clients sell capital property last year? Did they help finance the purchase? In that case, it’s important to review how to complete Form T2017 Summary of Reserves on Dispositions of Capital Property, because tax on these capital gains can be deferred for up to 10 years. Further, if there is a gradual transfer of property under the new intergenerational business transfer rules that begin in 2024, the capital gains reserve provisions will come into play. Here’s a synopsis of the rules, with excerpts from Knowledge Bureau’s Evergreen Explanatory Notes.