The decision by the Department of Finance to defer implementation of the proposed capital gains inclusion rate increase to January 1st, 2026, was welcomed by impacted taxpayers, notwithstanding all of the damage the proposals had already caused. They received more good news with the announcement that Ottawa is providing interest rate and penalty relief until […]
In a major policy shift, the federal government has announced that it will defer implementation of the proposed capital gains inclusion rate increase to January 1st, 2026. The proposal was to take effect on June 25th, 2024, though the legislation to implement the increase had yet to receive royal assent. The measure would increase the capital […]
The Canada Revenue Agency has confirmed that it will implement the federal government’s proposed increase to the capital gains inclusion rate. The news comes days after Prime Minister Justin Trudeau announced his resignation, sparking a Liberal leadership race, while also informing of the prorogation of Parliament until March 24th, 2025. The proposed changes increase […]
As the Notice of Ways and Means Motion that will implement the federal government’s increase to the capital gains inclusion rate lingers in a House of Commons brought to a virtual standstill by recent privilege debates, the Canada Revenue Agency has officially announced that it is administering the tax change, which was first tabled in […]
The federal government’s decision earlier this year to increase the capital gains inclusion rate caused considerable consternation among entrepreneurs, professionals and other affected taxpayers. Many stakeholders—including business and industry advocacy groups—called for a rethink, reversal or at the very least a delay of the policy change to allow individuals and business owners to plan. But as […]
HOW DO THE NEW CAPITAL GAINS RULES AFFECT YOU? In April, as part of the Federal Budget, the finance minister announced a change to the capital gains inclusion rate from 50% to 66.67%, effective from June 25, 2024. No matter your level of wealth, this change likely WILL affect you at some point. So, what has […]
When the federal government this week tabled a notice of ways and means motion providing technical details of planned changes to the capital gains inclusion rate, the news was more about what wouldn’t be included in future legislation than what would. Despite feedback from a diverse group ranging from economists to organizations representing Canada’s physicians—that […]
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