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OTTAWA – The Liberal government will bring its proposal to increase the inclusion rate on capital gains to the House of Commons before the parliamentary summer break, Finance Minister Chrystia Freeland said Tuesday.
The Liberals must table a motion in the House of Commons before they bring forward the actual legislation.The government proposes to make two-thirds of capital gains taxable. Currently, only one-half of the profits made on the sale of assets – such as stocks or secondary real estate property — are taxed.
The Liberal government estimates the higher inclusion rate will generate $19.4 billion over the next five years. Freeland took the opportunity on Tuesday to call Poilievre out for not taking a stance on the proposed tax changes yet.
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