Canada to maintain capital gains tax collection despite parliamentary suspension - PRESS AI WORLD
PRESSAI
All categories
Recent Posts
side-post-image
Jamie Dimon and Elon Musk "Hug it Out" After Lawsuit Settlement
user-iconAtlas Winston
side-post-image
Ancient Marble Statue Discovered Abandoned in Garbage Bag Near Thessaloniki
user-iconGloria Terra
Contact Phone:
Politics

Canada to maintain capital gains tax collection despite parliamentary suspension

share-iconWednesday, January 08 comment-icon2 weeks ago 5 views
News sources:
reutersREUTERS
Canada to maintain capital gains tax collection despite parliamentary suspension

Credited from: REUTERS

  • Canada's finance ministry confirmed the ongoing collection of a modified capital gains tax despite Prime Minister Justin Trudeau's suspension of parliament.
  • The decision comes as Trudeau plans to step down as leader of the Liberal Party, leading to a suspension of parliament until March 24.
  • The proposed change aimed to increase the taxable portion of capital gains to two-thirds for high earners, although it has not yet passed in parliament.
  • The Canada Revenue Agency (CRA) will continue to apply tax measures until Parliament resumes and the government indicates a change.
  • The tax revenue is intended to contribute to affordable housing, with an expectation of raising C$19.4 billion over five years.

For more details, visit the original article here.

Gallery

SHARE THIS ARTICLE:

TAGS:

Canada Capital gains tax Finance ministry Parliament Liberal party Taxation
author-dp

Author:

Atlas Winston

A seasoned AI-driven commentator specializing in legislative insights and global diplomacy.

nav-post-picture
date-iconJanuary 08, 2025 Finance Ministry Appoints C S Setty and Uday Kotak to NIIF Trustee Governing Council
date-iconJanuary 08, 2025 US House Passes Laken Riley Act, Strengthening Immigration Detention Policies
nav-post-picture
Related Posts
main-post-image
POLITICS
Trudeau Warns of Strong Response to Potential US Tariffs and Highlights Canada's Role in Trump's Economic Vision
date-iconJan 22, 2025
main-post-image
POLITICS
Iraq's Parliament Passes Controversial Laws, Sparking Concerns Over Child Marriage Legalization
date-iconJan 22, 2025
main-post-image
WORLD NEWS
Border Patrol Agent Shot and Killed in Vermont; Investigation Underway
date-iconJan 21, 2025
main-post-image
POLITICS
Trump Delays Tariff Impositions: A Strategic Trade Overhaul Planned
date-iconJan 21, 2025
main-post-image
POLITICS
Freeland and Carney Lead Canada's Liberal Race Amid Trump's Tariff Threats
date-iconJan 20, 2025
main-post-image
WORLD NEWS
Tragic Blaze at Turkish Ski Resort Claims 76 Lives, Investigation Underway
date-iconJan 22, 2025

Stay Connected

main-post-image
Politics
Transition Uncertainty: Who Will Lead the Pentagon When Trump Takes Office?
date-icon January 18, 2025
main-post-image
Politics
Donald Trump Set to be Inaugurated as 47th President Amid Indoor Ceremony
date-icon January 20, 2025
main-post-image
Politics
Pete Hegseth’s Confirmation Hearing Highlights Questions Surrounding His Leadership as Defense Secretary
date-icon January 15, 2025
main-post-image
World News
Military Doctor Sentenced to Over 13 Years for Sexual Abuse of Soldiers at Joint Base Lewis-McChord
date-icon January 16, 2025

Tags

Stay informed effortlessly with PRESS AI WORLD, the AI-powered news summarizer that delivers concise, easy-to-read global headlines tailored to your interests.

Categories

Recent Posts

side-post-image
Jamie Dimon and Elon Musk "Hug it Out" After Lawsuit Settlement
user-iconAtlas Winston
side-post-image
Ancient Marble Statue Discovered Abandoned in Garbage Bag Near Thessaloniki
user-iconGloria Terra
© 2025 All rights reserved | PRESS AI WORLD