OTTAWA, Ontario, Jan. 31, 2025 (GLOBE NEWSWIRE) -- The federal government's decision to delay implementation of proposed changes to the capital gains inclusion rate provides temporary relief for taxpayers. However, amid growing economic uncertainty, CPA Canada believes it should consider rescinding the proposed changes entirely.
"This decision reflects the concerns that CPA Canada has consistently raised with the Minister of Finance,” says John Oakey, CPA Canada's vice-president of tax.
"The retroactive impact on the proposed legislation with a prorogued parliament was creating significant uncertainty for taxpayers and their advisors.”
"Through our advocacy, we've emphasized the need for tax policy, along with its implementation, that provides clarity and stability for Canadian taxpayers-especially during times of economic uncertainty."
The proposed changes combined with prorogation of parliament have created significant uncertainty for taxpayers. While delayed implementation provides temporary relief, the fate of the changes to the capital gains remains unknown.
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