Capital gains tax changes are in limbo. But the CRA is collecting new charges anyway
When Parliament was prorogued, all bills and motions that had not yet received royal assent were essentially killed. So why is the Canada Revenue Agency charging higher capital gains taxes that were never formally adopted by Parliament?
Capital gains tax changes should ‘never see the light of day’: C.D. Howe
A new report from the C.D. Howe Institute says the proposed increase in the capital gains tax rate would impact people and companies more broadly than the government estimates and argues it should be scrapped amid political uncertainty.
How investors are protecting themselves from increased capital gains tax
With capital gains tax increasing since the Autumn Budget, investors are turning to tax wrappers like SIPPs and ISAs to shield their wealth
Here’s how capital gains tax changes will work after Parliament prorogued
When Prime Minister Justin Trudeau announced his pending resignation and prorogued Parliament, planned changes to how capital gains will be taxed were left in limbo.
Capital gains tax proposals weren't passed before prorogation but CRA to administer anyway
Despite the current prorogation, the finance department says the CRA will issue taxpayer forms in accordance with the proposed capital gains rules by January 31. The department says the CRA will stop administering the policy if Parliament resumes and the government signals it will no longer proceed with the proposed changes.
What is capital gains tax — check exclusions, changes, other details
In simple terms, a capital gains tax is a tax imposed on the sale of an asset by an individual or business. However, there are some exclusions that you should keep in mind.
Canada to continue collecting capital gains tax despite parliament suspension, finance ministry says
Prime Minister Justin Trudeau's government will continue to collect a modified capital gains tax, the finance ministry said on Tuesday, after the proposed measure was thrown into limbo when Trudeau suspended parliament.
Finance confirms CRA will administer capital gains tax changes
Whether Parliament is prorogued or dissolved, the agency generally continues to administer proposed legislation
How prorogation will impact capital gains tax changes in Canada
The Canada Revenue Agency has yet to offer guidance on how the Liberals’ capital gains tax proposal will be handled.
Canada to Enforce Capital-Gains Tax Increase Without Implementing Legislation
OTTAWA--To the ire of business groups, Canadian authorities intend to collect proceeds based on a higher capital-gains tax even though the Liberal government failed to pass implementing legislation before outgoing Prime Minister Justin Trudeau dissolved parliament.
Capital Gains Tax Rates for 2024-2025
Capital gains is the profit you make from selling a capital asset (real eastate, vehicle, collectibles etc) Learn about taxes occured and capital gains.
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