Canadian Businesses Say Tax Hike Risks Deeper Productivity Slump – BNN Bloomberg ...Middle East

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Canadian Businesses Say Tax Hike Risks Deeper Productivity Slump – BNN Bloomberg
source : canadian news today ( Middle East ) () 70
(Bloomberg) — Canada’s decision to increase capital gains taxes was criticized by businesses who warned the move would 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 which 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 over C$250,000 ($181,000). The rules included some exemptions for entrepreneurs and the sale of a primary residence. But some businesses said the approach could worsen what t

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