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"Canada's New Capital Gains Tax Increase Aims to Fund Housing Initiatives"

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Source: Bloomberg
"Canada's New Capital Gains Tax Increase Aims to Fund Housing Initiatives"
Photo: Bloomberg
TL;DR

Canada plans to raise capital gains taxes on businesses and wealthy individuals to generate funds for housing initiatives and youth-focused programs. The government will tax Canadian companies on two-thirds of their capital gains, up from half, and apply the same change to individual taxpayers with gains over C$250,000. However, the tax-free status for selling primary residences will remain unchanged.

Topics:worldfinanceeconomy#affordability#canada#capital-gains-tax#financeeconomy#government-spending#housing
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  1. Canada Hikes Capital Gains Tax to Raise Billions for Housing  Bloomberg
  2. Trudeau delivers 'Gen Z budget' - POLITICO  POLITICO
  3. Canadian Businesses Say Tax Hike on Capital Gains Risks Slump  Bloomberg
  4. 2024 federal budget's key takeaways: Housing and carbon rebates, students and sin taxes  CBC News
  5. Canada Lifts Capital-Gains Tax to Finance New Housing Measures, Keep Deficit Steady  The Wall Street Journal

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