Sarah Mills: Western separatists should consider forming their own party
Western separation is coming up once again in the wake of Mark Carney's election win, but Sarah Mills says those in favo...
The federal government says it is deferring the implementation of a hike to the capital gains inclusion rate to next year.
The deferral moves back the implementation of the change from June 25, 2024 to January 1, 2026.
Read More:
- CRA to continue with capital tax changes despite prorogation
- APAS calls for withdrawal, consultation on capital gains tax hike
- Capital gains tax change could hurt Sask. doctors and farmers
The deferral offers a reprieve for Canadians and businesses who were seeking clarity as the tax deadline nears.
The hike is meant to raise the portion of capital gains on which companies pay tax to two-thirds from one-half. The policy would also apply to individuals with capital gains earnings above $250,000.
While the hike was proposed in the Liberals’ latest federal budget and introduced later as a ways and means motion, it hasn’t passed in Parliament, which is prorogued until March 24.
However, the Canada Revenue Agency had already started to administer the changes because parliamentary convention dictates that taxation proposals are effective as soon as the government tables a notice of ways and means motion.
This report by The Canadian Press was first published Jan. 31, 2025.
Tara Deschamps, The Canadian Press
