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Capital Gains Tax Uncertainty Calls for Pause, Says Business Advisor

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Capital Gains Tax,Canada Revenue Agency,Parliament Prorogation

Amidst political turmoil and uncertainty surrounding the implementation of new capital gains tax rules, a business advisor urges the Canadian government to pause the changes.

Daryl Ching, founder and owner of Vistance Capital Advisory, argues that Ottawa should pause the new capital gains tax rules due to uncertainty surrounding their implementation. Parliament is prorogued until March 24th, leaving businesses and individuals in limbo. Although the proposed increase in the inclusion rate from 50 percent to 66.67 percent for capital gains over $250,000 was never passed, the Canada Revenue Agency is still proceeding with the new rules.

Ching points out that the context has changed since the initial proposal, with Prime Minister Justin Trudeau's resignation and a potential lack of government stability. He suggests that the current situation creates uncertainty for families and businesses, potentially leading to hasty decisions regarding real estate and estate planning

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