Prime Minister Justin Trudeau’s decision to resign and prorogue Parliament on Monday puts an end to a series of changes proposed by his government regarding capital gains.
Posted at 1:15 p.m.
Tara Deschamps
The Canadian Press
Had these changes been enacted before the extension, they would have increased the share of capital gains on which businesses pay tax from one-half to two-thirds.
They would also have been applied to individuals whose capital gains exceed $250,000.
When the changes were presented in the Liberals’ latest budget in April, they were met with disdain by Canada’s technology and business communities.
The president of e-commerce giant Shopify called the measure a tax on innovation and risk-taking, while others suspected it would drive talent out of the country.
The capital gains changes were tabled as a ways and means motion in June, but were delayed last year when Parliament was gridlocked over a dispute over the government’s green technology fund. government.
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