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.
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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