Justin Trudeau's government raises taxes on wealthiest Canadians in federal budget
OTTAWA, Ontario (AP) — Canadian Prime Minister Justin Trudeau ’s government announced Tuesday it is imposing higher taxes on the wealthiest Canadians as part of the federal budget.
The budget proposes to increase the capital gains inclusion rate, which refers to the taxable share of profit made on the sale of assets.
The taxable portion of capital gains above $250,000 Canadian (US$181,000) would rise from half to two-thirds, which the federal government says will only affect 0.1% of Canadians and raise nearly $20 billion Canadian (US$14.5 billion) in revenue over five years.
“I know there will be many voices raised in protest. No one likes paying more tax, even — or perhaps particularly — those who can afford it the most,” Finance Minister Chrystia Freeland said.
“But before they complain too bitterly, I would like Canada’s one per cent — Canada’s 0.1% — to consider this: What kind of Canada do you want to live in?”
Related articles
Georgia Republicans choose Amy Kremer, organizer of pro
COLUMBUS, Ga. (AP) — Georgia Republicans on Saturday elected to the Republican National Committee a2024-05-21Chinese traditional lion dance taught at primary school in Jiangxi
Coach Shu Hong (L) teaches student He Yi Chinese traditional lion dance at the Jing'an No.2 primary2024-05-21Wukesong Sports Center for 2022 Beijing Winter Olympics completed
Photo taken on September 16 shows Wukesong Sports Center. (Photo: Beijing Major Projects Constructio2024-05-21More international flights for summer season
China's civil aviation sector is accelerating the resumption of international passenger flights, aim2024-05-21- DENVER (AP) — The Denver Nuggets couldn’t quiet an epic second-half comeback by Minnesota or the noi2024-05-21
(CIIE) Xi Focus: Xi Sends Letter to Sixth CIIE, Pledges High
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21
atest comment