Estimates from Parliamentary Budget Officer are lower than in federal budget
The Parliamentary Budget Officer estimates that changes to the taxation of capital gains will generate $17.4-billion in revenue over five years – $2-billion less than the federal government signalled in the spring.
Capital gains are realized from the sale of properties, stocks and other assets for more than the purchase price. He said people could defer the sale of assets, “maybe in the hope of an eventual reduction in the inclusion rate.” People may scale back purchases of assets that could generate capital gains in the next few years, while others may spread those gains over several years to remain under the $250,000 threshold.
The changes to the capital-gains inclusion rate have sparked a rigorous debate. Technology leaders have been outspoken critics of the move, saying it will discourage investment and entrepreneurship.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Capital gains changes will bring in billions — but less than Ottawa expects: PBOChanges 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.
Read more »
PBO estimates capital gain tax change to bring in $17.4B in revenue over five yearsThe parliamentary budget officer estimates the Liberals' increase to the capital gains inclusion rate will bring in $17.4 billion in revenue over five years.
Read more »
This very grey mansion is what $17 million will get you in TorontoIf you haven't noticed, millennials really like the colour grey. Hence the term 'Millenial Grey'. From furniture and bedding to wall col...
Read more »
This $17 French Moisturizer Is Amazon’s Best-Kept Beauty SecretTessa Flores is a Staff Writer for HuffPost covering a number of shopping topics and lifestyle trends. She is based in Los Angeles and is an Oregon Native.
Read more »
This $17 French Moisturizer Is Amazon’s Best-Kept Beauty SecretTessa Flores is a Staff Writer for HuffPost covering a number of shopping topics and lifestyle trends. She is based in Los Angeles and is an Oregon Native.
Read more »
Projected revenue from capital gains tax falls short of government expectations, says PBOCanada's Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks at a press conference about changes to capital gains tax legislation, on Parliament Hill in Ottawa, Ontario, Canada, June 10, 2024.
Read more »