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

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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