Canada's Finance Minister plans to increase capital gains tax inclusion rate, making two-thirds of gains taxable, starting June 25.
Canada's Finance Minister Chrystia Freeland announced plans to introduce legislation before the parliamentary summer break to increase the inclusion rate on capital gains, with the federal budget proposing to make two-thirds of capital gains taxable, up from the current 50%. This change will apply to all capital gains realized by corporations, with individuals facing the higher rate on gains above $250,000. The changes are expected to come into effect on June 25.
May 21, 2024
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