Ottawa must axe capital gains changes amid uncertainty: Canadian chamber – National [Video]

The Canadian Chamber of Commerce is calling on the federal government to restore clarity to the upcoming tax filing season by pre-emptively nixing its proposed changes to capital gains taxes.

Those measures, which would see the taxable portion of capital gains rise to two-thirds from half in some circumstances, are currently in limbo and at risk of not being made law.

The Canada Revenue Agency nonetheless intends to administer the changes outlined in the Liberal government’s proposal. A Department of Finance official confirmed as much in a statement to Global News this week, citing “Parliamentary convention” and a need for “consistency and fairness” for taxpayers.

But the Canadian Chamber of Commerce said in a statement Thursday that going ahead with the controversial changes in a period of significant political uncertainty would only sow confusion.

“Given the likely possibility that this tax increase may no longer be enacted in 2025, it is imperative that the government …