OTTAWA — .
The budget proposes to increase the capital gains inclusion rate, which refers to the taxable share of profit made on the sale of assets. That's because the government increased the lifetime capital gains exemption from around $1 million to $1.25 million, which means Canadians can exempt capital gains up to that amount on the sale of small business shares and farming and fishing property.
James Orlando, TD's director of economics, said federal spending is speeding up but remains below the government's self-imposed "speed limit." The fall economic statement also set the goal of keeping deficits below one per cent of GDP beginning in 2026-27 and lowering the debt-to-GDP ratio in 2024-25 relative to the projection.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Liberals raise capital gains tax on wealthiest Canadians to pay for agendaOTTAWA — Finance Minister Chrystia Freeland delivered a federal budget Tuesday that keeps the deficit capped at $40 billion, thanks to higher-than-expected government revenues and new taxes that largely offset billions in new spending.
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »
Liberals raise capital gains tax on wealthiest Canadians to pay for agendaOTTAWA — Finance Minister Chrystia Freeland delivered a federal budget Tuesday that keeps the deficit capped at $40 billion, thanks to higher-than-expected government revenues and new taxes that largely offset billions in new spending.
Source: PGCitizen - 🏆 65. / 51 Read more »
Liberals raise capital gains tax on wealthiest Canadians to pay for agendaOTTAWA — Finance Minister Chrystia Freeland delivered a federal budget Tuesday that keeps the deficit capped at $40 billion, thanks to higher-than-expected government revenues and new taxes that largely offset billions in new spending.
Source: timescolonist - 🏆 15. / 75 Read more »
Liberals raise capital gains tax on wealthiest Canadians to pay for agendaOTTAWA — Finance Minister Chrystia Freeland delivered a federal budget Tuesday that keeps the deficit capped at $40 billion, thanks to higher-than-expected government revenues and new taxes that largely offset billions in new spending.
Source: sudburydotcom - 🏆 6. / 89 Read more »
Liberals raise capital gains tax on wealthiest Canadians to pay for agendaOTTAWA — Finance Minister Chrystia Freeland delivered a federal budget Tuesday that keeps the deficit capped at $40 billion, thanks to higher-than-expected government revenues and new taxes that largely offset billions in new spending.
Source: SooToday - 🏆 8. / 85 Read more »