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The Daily Chase: Capital gains tax change dominates budget aftermath [BNN Bloomberg (Canada)]
Last amazon.com, inc. earnings: 4/30 04:01 pm
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the biggest changes for the business and investor community is a change to the capital gains tax inclusion rate . Ottawa is raising the rate from 50 per cent of the gain above $250,000 being taxed to two-thirds. It's the first change to the capital gains tax regime in more than 20 years and it's hard to understate the significance of the move. Ottawa's numbers estimate the change will raise billions of dollars that can go toward paying for various social programs and housing initiatives, but the reaction from the business community has mostly focused on how much it will cost on the other side of the ledger, as a disincentive to invest in the economy. “We've got to figure out how to pay for all this stuff we're creating,” said Walied Soliman, the Canadian chair of law firm Norton Rose Fulbright, on BNN Bloomberg's The Close yesterday. “Creating new expenses and circumstances where we don't have the money doesn't work.” Mark McQueen, the founder of Wellington Growth Partners, says it's
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