Capital gains tax changes arent in the budget bill but still coming: Freeland – National [Video]

A plan to change how capital gains are taxed in Canada is not included in the Liberals’ bill to implement the 2024 federal budget, but Finance Minister Chrystia Freeland says the government is still committed to the plan.

Freeland tabled the Budget Implementation Act in the House of Commons on Tuesday, which included plans to introduce a swath of measures introduced in the Liberals’ spending plans unveiled on April 16.

One of the ways the Liberals planned to fund its latest spending plans was with a change to how capital gains — net profit from the sale of an asset like a stock or investment property — are taxed in Canada.

Budget 2024 proposed to raise the inclusion rate on those proceeds to 66.7 per centfor all corporations and trusts and for individuals making more than $250,000 in capital gains annually. For individuals, any such gains made under that bar would continue to face the current inclusion rate …