Canadian Prime Minister Justin Trudeau is imposing higher taxes on the wealthiest Canadians as part of the federal government. The budget proposes to increase the capital gains inclusion rate, which refers to the taxable share of profit made on the sale of assets.
OTTAWA , Ontario — Canadian Prime Minister Justin Trudeau’s government announced Tuesday it is imposing higher taxes on the wealthiest Canadians as part of the federal budget.
The taxable portion of capital gains above $250,000 Canadian would rise from half to two-thirds, which the federal government will only affect 0.1% of Canadians and raise nearly $20 billion Canadian in revenue over five years. “But before they complain too bitterly, I would like Canada’s one per cent — Canada’s 0.1% — to consider this: What kind of Canada do you want to live in?”
Canada General News Taxes Ottawa I World News Economic Policy
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