Canadian businesses in uproar over capital gains tax increase ...Middle East

TORONTO: Canada’s decision to increase capital gains taxes was criticised by businesses, who warn the move will only exacerbate the country’s investment and productivity woes. In a bid to raise billions of dollars to help pay for policies to correct a housing crisis that has turned off younger voters, Finance Minister Chrystia Freeland announced the government will tax Canadian companies on two-thirds of capital gains, up from half currently. The change will also apply to individual taxpayers with annual gains of over C$250,000 (US$181,000). The rules included some exemptions for entrepreneurs and the sale of a primary residence. But some businesses sa

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