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The Big Story
Breaking down the capital gains tax fight
Jun 20, 2024
Debating the impact of Canada's capital gains tax changes on the wealthy and small business owners. Analyzing the complexities and potential consequences of the tax adjustment. Exploring concerns from various sectors and the government's rationale for the change. Discussing implications on doctors' retirement savings and the timeline for upcoming tax adjustments.
24:51
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Quick takeaways
- The changes to the capital gains tax in Canada aim for tax fairness by increasing the inclusion rate on capital gains.
- The tax adjustments have sparked concerns among various sectors like doctors and businesses, raising doubts on revenue targets.
Deep dives
Overview of Changes to Capital Gains Tax
The Liberal government announced changes to the capital gains tax in their budget, raising the inclusion rate on capital gains to two-thirds. Individuals will be taxed on capital gains over $250,000, while corporations will have all capital gains taxed at the new rate. The government argues that this policy adjustment aims for tax fairness and includes exemptions for primary residence sales and an entrepreneurs incentive.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode