OTTAWA, Canada – Today, Prime Minister Carney announced the cancellation of the proposed increase in the capital gains inclusion rate, a move aimed at bolstering the Canadian economy.
“Cancelling the increase of the capital gains inclusion rate recognizes the vital role that builders and small businesses play in shaping Canada’s future. This decision will enhance Canada’s capacity to attract the private investment essential for job creation and economic growth,” stated a government spokesperson.
Additionally, the government will uphold the increase of the Lifetime Capital Gains Exemption limit to $1,250,000 for the sale of small business shares and farming and fishing property. Legislation concerning the exemption limit increase will be introduced in the near future.
The current administration is dedicated to stimulating investment, encouraging builders to take risks, and rewarding their successes. Now is the time to build.
Prime Minister Carney stated: “Canada is a country of builders. Cancelling the hike in capital gains tax will boost investment throughout our communities and incentivize builders, innovators, and entrepreneurs to expand their businesses in Canada, leading to the creation of more high-paying jobs. It’s time to unite for a stronger Canadian economy – the most robust economy in the G7.”
