Controversial capital gains change now in effect: CTV
Deputy Prime Minister and Minister of Finance Chrystia Freeland responds to a question during a news conference, Tuesday, October 24, 2023 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
A controversial increase to the capital gains inclusion rate is now in effect despite strong pushback from small businesses, farmers and medical professionals, CTV reported. Starting Tuesday, individuals with capital gains of more than $250,000 will be subject to an inclusion rate of 67 per cent, up from 50 per cent before. For corporations, all capital gains are now subject to the two-thirds inclusion rate. The change to the inclusion rate is projected to bring $6.9 billion into government coffers this fiscal year, CTV said, citing budget estimates.
