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Carney confirms Liberals won’t proceed with planned capital gains tax change

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



Prime Minister Mark Carney confirmed the Liberal government will not proceed with the planned increase to the capital gains inclusion rate, a key tax policy from the 2024 budget, despite previously projecting it to generate $19.4 billion in revenue over five years. The Liberals still intend to raise the lifetime capital gains exemption for small business shares and farming/fishing equipment sales.

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