Party leader says his government would create a new task force to cut taxes
Conservative Leader Pierre Poilievre rises during Question Period in the House of Commons on Parliament Hill in Ottawa on Wednesday, June 5, 2024.Conservative leader Pierre Poilievre says he and his party will vote against the Liberal government’s capital-gains tax increase when it is put to a vote Tuesday afternoon.
“Trudeau is hiking taxes on homebuilding during a housing shortage. He is raising taxes on doctors during a doctor shortage. He’s hiking taxes again on farmers during a food cost crisis. And he’s hiking taxes on small business while Canadians’ paycheques are shrinking. This job-killing Trudeau tax will drive billions of dollars of machines, technology, business and paycheques out of our country,” he said.
The motion states that as of June 25, the capital gains inclusion rate – the portion on which tax is paid – will rise to two-thirds from one-half on capital gains realized by companies. The increase will also apply to individuals, but only on capital gains above $250,000. The tax change was first announced in Ms. Freeland’s April budget, but it was not included in Bill C-69, a government bill introduced last month to implement parts of the budget.
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