Prime Minister Justin Trudeau’s proposed capital gains tax hike is generating significant controversy and concern among Canadians. The tax change, which includes a 66.7% inclusion rate hike effective June 25, is expected to impact a substantial portion of the population, contrary to the government's claim that it will only affect 0.13% of Canadians. Small business owners, in particular, are bracing for the impact, with surveys indicating that half of them will be affected. The agriculture industry is also expected to face far-reaching effects. Critics argue that the tax hike will be detrimental to the economy, with some labeling it as 'divisive and political.' There is a growing sentiment among Canadians that the tax will affect nearly a quarter of the population, far more than the government estimates. The tax is also described as 'job killing' by opponents.
While the Liberals say that the capital gains tax increase will only affect 1 in 769 Canadians, recent polling shows Canadians feel it will affect nearly a quarter of the population. https://t.co/WNhzgoGDKi
Half of Canada's small business owners will be affected by a new 66.7% capital gains tax inclusion rate hike that takes effect June 25. MORE: https://t.co/ZPqQ8vQlng https://t.co/1Wsis29QD4
‘People have gone bust’: the small business owners struggling to pay back Covid loans https://t.co/QxJ2d8EFlp
Half of Canada's small business owners will be affected by a new 66.7% capital gains tax inclusion rate hike that takes effect June 25. https://t.co/ZPqQ8vQlng
Most small business owners bracing for capital gains hike, survey says https://t.co/H57Z2IXSlu https://t.co/yQ22N0utlU
Most small business owners bracing for capital gains hike, survey says, via @JaneCStevenson https://t.co/bN5U5RFcJ6
It’s about to get harder for small businesses to declare bankruptcy. @melissajourno https://t.co/HgTR5v2aCf
"Divisive and political": #Trudeau ignites another heated debate over capital gains tax hike #cdnpoli https://t.co/QYVDMs7Tmy
It doesn’t affect just .13% of Canadians like Justin Trudeau is says it does. Half of all of the small businesses in Canada will be hurt by this job killing new tax. 👇 Trudeau: Not. Worth. The. Cost. https://t.co/wranlk3VAN
Prime Minister Justin Trudeau’s capital gains tax will have far-reaching effects, including for the agriculture industry. Read more: https://t.co/LesU6IJawY https://t.co/C09wcYHv8i
What the capital gains tax changes mean to you — via @financialpost https://t.co/CihFaO6CYg https://t.co/4ERAquUlXz
Posthaste: A lot more Canadians say they'll take a hit from the capital gains tax hike than Ottawa thinks https://t.co/iPt681csSh https://t.co/wLwRPdJd90