Capital gains tax change draws ire from some Canadian entrepreneurs worried it will worsen brain drain | CBC News ...Middle East

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Capital gains tax change draws ire from some Canadian entrepreneurs worried it will worsen brain drain | CBC News
A chorus of Canadian entrepreneurs and investors is blasting the federal government’s budget for expanding a tax on the rich. They say it will lead to brain drain and further degrade Canada’s already poor productivity. In the 2024 budget unveiled Tuesday, Finance Minister Chrystia Freeland said the government would increase the inclusion rate of the capital gains tax from 50 per cent to 67 per cent for businesses and trusts, generating an estimated $19 billion in new revenue. Capital gains are the profits that individuals or businesses make from selling an asset — like a stock or a second home. Individuals are subject to the new changes on any assets over $250,000. The government estimates

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