Freeland Introduces Capital Gains Proposal in Parliament

Deputy Prime Minister and Minister of FInance Chrystia Freeland tabled a ways and means motion in the House of Commons on June 10 as part of the Liberal government’s upcoming legislation to increase the capital gains tax. Ms. Freeland said the changes to the tax regime, which will be effective June 25, is a more “fiscally responsible” approach than the government taking on more debt. “Canada could finance these critical investments by taking on more debt, but that would place an unfair burden on younger generations,” Ms. Freeland said during a June 10 press conference. “Fiscal responsibility matters.” A ways and means motion is the first step to complete before tax change legislation can be tabled. The motion is expected to be voted on later next week....