Arab Canada News
News
By م.زهير الشاعر
Published: November 28, 2024
Conservative Party leader Pierre Poilievre strongly criticized the proposed tax amendments by the Canadian Liberal government, which include increasing the capital gains tax on corporations and high-income individuals. Under the proposed policy, corporations will be taxed on 66% of capital gains, compared to 50% currently.
Individuals earning more than CAD 250,000 in capital gains annually will face the same tax increase.
Poilievre stated that this policy will negatively impact small businesses, farmers, doctors, and construction workers in Canada, especially amid the current crises in housing and healthcare sectors.
He also pointed out that this tax increase could complicate retirement plans for farmers and create difficulties in transferring farms between generations. While the government claims these amendments will help fund social investments such as housing for youth and expanding healthcare services, the Conservative Party views them as "wasteful and inflating inflationary pressures" that exacerbate the financial situation of Canadian citizens.
Despite government efforts to increase fairness between wealthy individuals earning income from investments and those earning income from work, the Conservative Party remains opposed to these tax proposals.
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