(Bloomberg) — The Canadian Prime Minister, Justin Trudeau, is set to push for a vote this week on a proposed increase in the capital gains tax inclusion rate. This move is expected to generate significant additional government revenue but has faced opposition from the business sector.
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Chrystia Freeland, the Finance Minister, announced that she will present a motion in the House of Commons on Monday during a speech in Toronto on Sunday. The reforms being proposed will align with the government’s previous announcements, with an effective date of June 25 and no changes to the exemption for gains on primary residence sales.
“Tomorrow, we will unveil changes that will result in a slight increase in taxes for a small number of Canadians,” stated Freeland.
In April, the government revealed its intention to raise the capital gains tax for corporations and individuals who realize gains exceeding C$250,000 ($182,000) in a given year. Currently, half…
2024-06-09 13:50:09
Source: finance.yahoo.com