Ontario confectionery for Sale what taxes will I pay
Selling a confectionery store in Ontario Canada. selling the stock and the business but not the building because it is rented . Can anyone who has sold their convenience store Advise to  what Taxes I will pay upon the sale of everything.
Thanks in advance
[{"id": "ic5nqzh", "text": "Maybe this would help \n\nhttps://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/changes-your-business/selling-a-business.html", "replies": [], "depth": 1}, {"id": "ic5r886", "text": "Mostly capital gains. What was the business worth when you started? Did you start from $0, then your on paper gain is sale value minus $0. Did you invest in the business? Buy goods, build a website, buy machinery, equipment etc? The capital investment costs are deducted from the capital gain. The net amount is subject to capital gain taxes which I believe is calculated as 50% of the net gain being applied to income in the period in which you sold.", "replies": [{"id": "ic6l9qh", "text": "Capital gains of 50% are insane\u2026. Is there anything like the 1031 in Canada? I know that\u2019s for American CRE.", "replies": [{"id": "ic6z1n0", "text": "It\u2019s not 50% that is taxed away. 50% is applied as income and then income tax applies based on your aggregate income.\n\nNo 1031 similar program that I\u2019m aware of.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ic67jlz", "text": "There's a $800k capital gains exemption on business I believe. You really need to talk to  an accountant.", "replies": [], "depth": 1}, {"id": "ic7tx8b", "text": "Hello, Ontario broker here. Most likely you will be looking at asset sale, where you'll be taxed on half of the gains at your marginal tax rate. If you can convince buyer to buy shares of your company, you would have a lifetime share sale capital gains exemption on just under $900k. Depending on what they are buying, the buyers will need convincing because they can't amortize assets their bought (you likely already amortized them) and because they are taking on additional risk and costs not associated with asset sale.  \n\nHowever, realistically, similar store usually sell for relatively low values of under $100k, and buyers would not be willing to go into complicated sale scenarios. Stock is usually sold separately and not subject to capital gains.", "replies": [], "depth": 1}]