Capital Gains Tax Update: What You Need to Know Now
As outlined in our 2024 Federal Budget Review publication, Budget 2024 proposed several important new measures impacting individuals and business owners, most notably the proposed increase in the capital gains inclusion rate (i.e., the amount of a capital gain that is included in income for tax purposes). Specifically, effective for capital gains realized on or after June 25, 2024, Budget 2024 proposed an increase in the capital gains inclusion rate from one-half to two-thirds for corporations and trusts, and from one-half to two-thirds on the portion of capital gains realized annually in excess of $250,000 by individuals.Click to Read
What to Expect from the Next Federal Budget
By the time Ottawa tables the federal budget on November 4, 564 days will have passed since Canadians last received a comprehensive breakdown of the government’s spending plans. Much has changed since then. Canadians elected a new Prime Minister, Americans returned Donald Trump to the White House, interest rates retreated and rising U.S. tariffs have upended decades of established trade relationships.Click to Read