Capital gains tax 'last thing the Canadian economy needs,' say business groups

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The Canadian Press Notícia

Prime Minister Justin Trudeau,Capital Gains,Chrystia Freeland

'Such measures would deter investment at a time when we are striving to boost competitiveness and innovation within the industry and across the economy.'

Prime Minister Justin Trudeau, Deputy Prime Minister and Minister of Finance Chrystia Freeland and cabinet ministers pose for a photo before the tabling of the federal budget on Parliament Hill in Ottawa, on Tuesday, April 16, 2024.

"It's another tool or measure that the government is taking away from our innovators to attract capital, attract talent and build companies."The Canadian Manufacturers and Exporters trade group president Dennis Darby said in a statement that "taxing Canada's job creators sends the wrong signal, at the wrong time."

"I think the budget decidedly makes it worse," CFIB president Dan Kelly of Canada's productivity challenge, adding that encouraging entrepreneurship and growth appears to be a low priority for the federal government. He expects medium-sized business owners to be most affected by the capital gains tax change.

"That's not good for productivity. We should move towards levelling the playing field so that all investors are paying a fair tax rate, given their incomes, at the same tax rate on every form of investment."George Conway Details ‘Oh, It’s Daddy’ Call To Ivanka That Exposed Trump’s FearsThe former president's onetime right-hand man pointed out Trump's history when it comes to marking his children's educational milestones.

On Tuesday, the second day of former President Donald Trump’s hush money trial, Judge Juan Merchan rebuked defense lawyers after Trump was heard muttering his disapproval of an answer given by a potential juror in the case.Right-Wing 'Reacher' Fans Flip Out After Alan Ritchson Calls Trump A 'Rapist And A Con-Man'Barr says he’ll vote for ‘Republican ticket’ in November

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Companies, asset managers in a quandary with capital-gains tax increasesThe new measures will require businesses and individuals to pay tax on two-thirds of their capital-gains earnings, up from one half, when they sell their assets such as office buildings and stocks
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