Canadian business groups urge government to scrap capital gains tax hike ...Middle East

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TORONTO (May 9): Some of Canada’s biggest business lobby groups on Thursday asked Prime Minister Justin Trudeau’s Liberal government to scrap a planned tax hike on capital gains, a move they said would stifle growth and investment climate in the country. The federal government disclosed last month its plan to increase the share of capital gains subject to taxation to 66.7%, up from the current 50%, for individuals with annual investment profits exceeding C$250,000 (RM866,192), companies and trusts, as it seeks to raise revenue to fund public programs. The hike, set to take effect on June 25, would raise C$19.4 billion in revenue over a five-year period, according to the government. T

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Last updated : 10 May 2024 clock 10:38 AM

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Canadian business groups urge government to scrap capital gains tax hike ...Middle East

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