Capital gains tax overhaul projected to raise $17.4 billion, but critics warn of economic fallout

The Parliamentary Budget Officer (PBO) is projecting a $17.4 billion boost in income tax revenues from 2024-'25 to 2028-'29, thanks to the federal government's latest effort to bolster the nation's coffers. The policy change, which was introduced in Budget 2024 and came into effect on June 25, increases the capital gains inclusion rate for corporations and trusts from one-half to two-thirds and applies the same rate for individuals on yearly gains exceeding $250,000. Read More