OTTAWA — The Liberal government's changes to capital gains taxation came into effect Tuesday, despite significant pushback from business and physicians' groups.
At a time when the Liberals are looking to woo back young voters, Prime Minister Justin Trudeau has pitched the effective tax increase as a way to deliver generational fairness. The NDP, Bloc Québécois and Greens voted with the Liberals in favour of the motion while the Conservatives, who had been silent on the tax changes until then, voted against it.
Physicians' groups have spoken out against it as well, noting that many doctors have used their incorporated medical practices to invest and save for retirement. "Do you want to live in a country where those at the very top live lives of luxury, but must do so in gated communities behind ever-higher fences using private health care and airplanes because the public sphere is so degraded and the wrath of the vast majority of their less privileged compatriots burns so hot?" Freeland said.