Deputy Prime Minister and Finance Minister Chrystia Freeland will be tabling a bill to pass a wide range of measures promised in the April 16th federal budget.
Not included in the 663 page document are plans to collect an extra $19.3 billion over five years by increasing the inclusion rate on capital gains. Freeland says those changes will be introduced on their own timeline.
The budget stated that the changes would apply to capital gains realized on or after June 25th . This is an issue that will impact farms, businesses and professional occupations and there are many unanswered questions. The Canadian Federation of Independent Business is sifting through all the details and provided a Tuesday webinar update to its members across the country. This is a link to some of the talking points.
We spoke to CFIB National President Dan Kelly to provide an overview of the entire situation—both the positive and the negative.