In April 2024, the Government of Canada announced a proposed increase to the change in the capital gains “inclusion rate” from ½ to 2/3rds for dispositions on or after June 25, 2024.
However, with no legislation on the table in Parliament, and with Parliament currently prorogued, there was uncertainty whether this change would become law, and made it difficult for clients to know how to file their returns.
This morning, the Government of Canada announced that the date of the proposed increase to the capital gain inclusion rate has been moved from June 25, 2024 to January 1, 2026.
We are pleased to have clarity from the Government of Canada on this important matter as this clarity will help us advise our clients all through 2025, but especially as we navigate tax season.
The link to the Government of Canada’s release can be found here:
If you have any questions please reach out to your HGA Advisor.