Law firm seeks injunction to block early implementation of proposed higher capital gains tax in Canada.

A British Columbia law firm has filed an injunction to prevent the Canada Revenue Agency from enforcing a proposed capital gains tax hike before it is passed by Parliament. The Liberal government's spring budget aims to increase the tax rate on capital gains from one-half to two-thirds, affecting individuals with earnings over $250,000. Despite the proposal not yet being law, the CRA plans to enforce the change unless Parliament resumes and signals otherwise. The law firm seeks to keep the current tax rate in place.

2 months ago
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