17 hours ago ‘Shameful’: Calgary and Alberta navigating the impacts of a prorogued Parliament

The move suspends all Parliamentary work, kills unfinished legislation, and relieves members of Parliament of their duties, while allowing the government to remain in power.

Other

22 hours ago Saskatchewan premier, producers react to Trudeau’s resignation announcement

With Justin Trudeau’s resignation Monday, Saskatchewan producers are concerned over what will happen with the Capital Gains Tax.

Politics

19 hours ago Taxpayers complained of ‘greedy auditors’ in pollsters’ report to CRA: Study

A pollster report said taxpayers in Canada Revenue Agency focus groups complained in 2024 that they were the victim of “greedy auditors,” according to Blacklock’s Reporter. CRA paid $169,196 for the study, which came after cabinet threatened to enact a capital gains tax increase. “Impressions of Canada’s tax system focused on its complexity, lack of […]

Economics

27 hours ago With the House of Commons prorogued, some key Liberal legislation may not pass

OTTAWA — Gov. Gen. Mary Simon granted Justin Trudeau’s request Monday to prorogue Parliament until Mar. 24, suspending activities of the House of Commons while the Liberals move to replace him as both Liberal Leader and prime minister. The move means the legislative agenda will be reset once the House of Commons reconvenes in March […]

Other

25 hours ago Fate of Canada's capital gains tax hike uncertain after Parliament prorogued

The fate of the capital gains tax hike is uncertain after Prime Minister Justin Trudeau decided to resign and prorogue Parliament.Proposed changes to the capital gains tax were announced by the federal government in its budget last April and introduced as a ways and means motion in the House of Commons in June. The bill did not pass due to pushback from the Conservatives.The tax hike would impact a small portion (0.13 per cent) of the wealthy population. According to the government, the inclusion rate would be increased from one-half to two-thirds for any Canadian individual or corporation that makes over $250,000 per year in capital gains."An increased Lifetime Capital Gains Exemption would ensure most middle-class entrepreneurs won't pay more tax because of these changes, and the new Canadian Entrepreneurs' Incentive would encourage entrepreneurs to invest in capital-intensive and high-growth sectors," reads a news release from Canada's department of finance.A previous article cov...

Economics

26 hours ago Capital gains tax proposals weren’t passed before prorogation but CRA to administer anyway

Parliamentary convention dictates tax proposals are effective as soon as the government introduces them in the house

Economics

27 hours ago CRA to continue with capital tax changes despite prorogation: Finance department

The federal government says the Canada Revenue Agency will continue to administer the capital gains tax, even though it hasn’t passed in Parliament, which is prorogued until March 24. The finance department says parliamentary convention dictates that taxation proposals such as the capital gains taxation measures the Liberals introduced last year are effective as soon […]

Economics

39 hours ago Prorogation may scuttle capital gains proposal but CRA yet to offer guidance

Changes announced in the April budget would raise the portion of capital gains on which some people pay tax to two-thirds from one-half

Economics