‘It’s chaos:’ Cottage owners rush to sell ahead of capital gains tax changes: Globe and Mail
The proposed capital gains tax increase has prompted a flood of cottage owners to sell off their properties before the changes kick in, realtors say. Jenna Legge reports in the Globe and Mail that Haliburton, Ont. realtor Barbara Williams called the situation “chaos,” with clients scrambling to speed up the selling process. The April 16 federal budget proposes to raise the inclusion rate on capital gains greater than $250,000 for individuals from 50 per cent to 66.7 per cent.
