Business Groups Ask Freeland to Reverse Capital Gains Tax Change

Deputy Prime Minister and Minister of Finance Chrystia Freeland waits to be interviewed after tabling the federal budget on Parliament Hill in Ottawa, on April 16, 2024. The Canadian Press/Justin Tang

Prominent business associations in Canada are asking Ottawa to scrap its plan to raise the tax inclusion rate on capital gains, calling the measure “shortsighted.”

The groups are calling on the government to reverse the decision to hike the capital gains tax inclusion rate to 66.7 percent on all profits surpassing $250,000.