Canada to Apply Capital Gains Change Despite Government Halt
- Hike to capital gains inclusion tax rate never passed into law
- Trudeau’s political rival hasn’t said he would scrap increase
A Canada Revenue Agency mailbox in Toronto, Ontario, Canada.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Canada’s tax authority will continue applying the higher capital gains inclusion rate despite Prime Minister Justin Trudeau’s suspension of Parliament.
Trudeau’s government introduced the change in the 2024 federal budget, increasing the inclusion rate as of June 25 from 50% to two-thirds for all corporations and trusts, and for individuals earning gains above C$250,000 ($175,000), with some exceptions.