Canadian business groups say the federal government’s proposed changes to capital gains taxes will have a chilling effect on investment in the country, with one industry association saying the policy is “the last thing the Canadian economy needs.”
The federal government’s 2024 budget proposes hiking the tax rate for capital gains of more than $250,000 from one-half to two-thirds. That change would mean that for corporations, trusts and individuals that earned more than $250,000 in capital gains in a year, two-thirds of that amount would count as taxable income. The tax hike would not apply to principal…
