Changes to how capital gains are taxed in Canada will bring in $17.4 billion over the next five years, according to the Parliamentary Budget Officer.
Earlier this week the federal government took the first steps to increase the capital gains tax. Personal finance expert Rubina Ahmed-Haq joins Candace Daniel to break down what it all means and how it could impact you – Jun 13, 2024are taxed in Canada will bring in billions less in revenue for the government than Ottawa was expecting when it tabled the
The so-called capital gains advantage has been cited as a way for wealthy Canadians to avoid paying as much on their income taxes. The Liberals said in the budget that only 0.13 per cent of Canadians earn more than $250,000 in capital gains each year.as part of the Liberal bid to improve “tax fairness,” arguing it was “really fair” to ask the wealthiest to pay more to fund investments in housing and other spending properties.
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