Freeland expected to announce anticipated changes to capital gains tax | LIVE

Deputy Prime Minister Chrystia Freeland is expected to introduce promised changes to the capital gains tax during an announcement in Toronto on Sunday. Freeland said in April that although not unveiled in the bill to implement the 2024 federal budget, the federal government still remains committed to its plan to change how capital gains— net profit from the sale of an asset like a stock or investment property — are taxed in Canada. Budget 2024 proposed to raise the inclusion rate on those proceeds to 66.7 per cent for all corporations and trusts and for individuals making more than $250,000 in capital gains annually. For individuals, any such gains made under that bar would continue to face the current inclusion rate of 50 per cent. The increase to the inclusion rate is expected to generate more than $19 billion in tax revenues over five years, which will help the Liberals pay for a slew of new spending on things like housing and national defence. For more info, please go to https://globalnews.ca/news/10460205/capital-gains-tax-changes-separate-bill/#:~:text=Budget%202024%20proposed%20to%20raise,rate%20of%2050%20per%20cent. Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc Like Global News on Facebook HERE: http://bit.ly/255GMJQ Follow Global News on X HERE: http://bit.ly/1Toz8mt Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB #GlobalNews #capitalgains #cdnpoli