Capital gains tax changes could lead to 'brain drain,' harm productivity as some fear tech exodus [Financial Post (Toronto, Ontario, Canada)]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: Financial Post
Get the latest from Barbara Shecter straight to your inbox You can save this article by registering for free here . Or sign-in if you have an account. The Liberal government's plan to increase capital gains tax for corporations and wealthier individuals is coming under fire from business leaders in the tech industry who say the policy rolled out in Tuesday's budget creates a major disincentive for innovative companies to put down roots in Canada and will hurt the country's already lagging productivity Article content Finance Minister Chrystia Freeland laid out plans for the inclusion rate on all annual capital gains for corporations and trusts — as well as capital gains above $250,000 for individuals — to rise to two-thirds from one half through amendments to the Income Tax Act, effective June 25, 2024. Article content John Ruffolo, managing partner of Maverix Private Equity and founder of OMERS Ventures, said there may be several unintended consequences of the tax change
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