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?” |
Heim homers in the 9th and Lowe hits an RBI single in the 10th to lead Rangers past Royals 3Kendrick Lamar calls Drake a PEDOPHILE in new diss track as their war of words heats upWhat to stream: 'Iron Claw,' 'Pretty Little Liars,' Ryan CastroHoroscope today: Daily guide to what the stars have in store for YOUMany Florida women can't get abortions past 6 weeks. Where else can they go?Fight to own Britain's biggest megaBox Office: 'The Fall Guy' gets a muted $28.5M openingSierra Nevada records snowiest day of the seasonCast of the Lord of the Rings pay tribute to late coRussia launches drones as Ukraine marks third Easter at war