Chrystia Freeland, a frontrunner to replace Prime Minister Justin Trudeau, has reversed her previous support for increasing the capital gains inclusion rate. This change is intended to counter the impact of U.S. President Donald Trump's tax policies, which Freeland believes threaten Canadian jobs and investment. Freeland's source claims that Trump's election and Republican control of Congress have significantly altered the economic landscape, making it crucial to adapt quickly.
she once championed as finance minister if she wins the race to replace Prime Minister Justin Trudeau, Global News has learned.
“This puts Canada at a significant risk of losing jobs and investment that will move to the United States instead,” the source said. “We must adapt, and quickly. The source added Trump’s election and Republican control of both chambers of Congress have “dramatically” changed the “economic reality.”Bloomberg News first reported Freeland’s position on the capital gains tax, citing a person with knowledge of her plan.— how much of the proceeds from an asset’s sale are subject to tax — to two-thirds, up from 50 per cent, on all capital gains earned over $250,000 annually.
CAPITAL GAINS TAX US TAX POLICY DONALD TRUMP CANADA ECONOMY CHRYSTIA FREELAND
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