US EditionCRA to continue with capital tax changes despite prorogation: finance department
- The federal government states that the Canada Revenue Agency will continue to administer the capital gains tax despite not passing in Parliament, which is prorogued until March 24.
- The Finance Department mentions that taxation proposals are effective once a notice of ways and means motion is tabled by the government.
- The Canada Revenue Agency will issue taxpayer forms by January 31, following the proposed capital gains rules, according to the Finance Department.
- Trudeau's prorogation of Parliament has ended proposed changes to capital gains taxation from the latest budget, which faced criticism from Canada's tech and business sectors.
51 Articles
51 Articles
CRA to continue with capital tax changes despite prorogation: Finance Department
The federal government says the Canada Revenue Agency will continue to administer the capital gains tax changes proposed in the budget last year, even though they haven’t passed in Parliament, which is prorogued until March 24.
Prorogation Upends Capital Gains Proposal but CRA yet to Offer Guidance
Justin Trudeau’s decision to step down and prorogue Parliament will keep his government from implementing its proposed changes to capital gains for now, but Canadians might not be off the hook with tax collectors just yet. The changes would raise the portion of capital gains on which companies pay tax to two-thirds from one-half. The policy would also apply to individuals with capital gains earnings above $250,000. The changes were announced in …
Prorogation may scuttle capital gains proposal but CRA yet to offer guidance
Justin Trudeau's decision to step down and prorogue Parliament will keep his government from implementing its proposed changes to capital gains for now, but Canadians might not be off the hook with tax collectors just yet.
Prorogation upends capital gains proposal but CRA yet to offer guidance
Justin Trudeau's decision to step down and prorogue parliament will keep his government from implementing its proposed changes to capital gains for now, but Canadians might not be off the hook with tax collectors just yet.
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