Budget’s capital gains tax changes divide the small business community

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Budget’s capital gains tax changes divide the small business community
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The new incentive, however, will not apply to a range of industries, including restaurants, hotels, the arts, entertainment, and professional services, such as doctors’ offices and small accounting firms

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The federal government’s decision to change the way capital gains taxes work for small-business owners is drawing criticism for arbitrarily creating economic winners and losers.

. Mr. Kelly predicted small-business owners facing significantly higher tax bills will lobby hard for changes in the government’s approach. “On the entrepreneur side, they are going have a lineup of sectors screaming and yelling, with pitchforks.”

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