Details on proposal in 2024 federal budget to increase inclusion rate for capital gains
Finance on June 10, 2024, issued a Notice of Ways and Means Motion (NWMM) providing additional details on the proposal in the 2024 federal budget to increase the inclusion rate for capital gains in excess of $250,000* realized on or after June 25, 2024 to 2/3 for corporations, trusts, and individuals. Read TaxNewslash
The notice clarifies several design aspects of the proposal, including regarding:
Read a June 2024 report prepared by the KPMG member firm in Canada
*$=Canadian dollar