The Prime Minister's Office says a plan to hike the inclusion rate on capital gains, first pitched in the federal budget last year, will not move forward.
The Liberal government's proposed capital gains tax changes, which were to take effect June 25 of last year, will not move forward. Conservative Leader Pierre Poilievre pledged to reverse the changes if elected, while PM Carney stated nixing the change would encourage Canadian business owners to take risks. The Liberals still plan to raise the lifetime capital gains exemption for sales of small business shares and farming and fishing equipment to $1.25 million.
