Capital Gains Tax Changes
Foreign property disclosure
February 16, 2025Increased TFSA Contributions
March 2, 2025The Canadian government has postponed the implementation of proposed changes to the capital gains tax until January 1, 2026. Initially introduced in April 2024, these changes aimed to increase the taxable portion of capital gains from 50% to 66% for businesses and individuals with gains exceeding C$250,000. The deferral is attributed to political challenges in passing the measure through Parliament. The government anticipates that this adjustment will generate approximately C$19.4 billion over five years to support affordable housing initiatives and address the national budget deficit.