Prorogation Upends Capital Gains Proposal but CRA yet to Offer Guidance

Prorogation Upends Capital Gains Proposal but CRA yet to Offer Guidance
Prime Minister Justin Trudeau speaks with media outside Rideau Cottage, on Jan. 6, 2025 in Ottawa. The Canadian Press/Adrian Wyld
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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.