Quebec follows Ottawa and raises amount of capital gains subject to tax
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Winnipeg Free Press access to your Brandon Sun subscription for only
$1 for the first 4 weeks*
*$1 will be added to your next bill. After your 4 weeks access is complete your rate will increase by $0.00 a X percent off the regular rate.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 19/04/2024 (530 days ago), so information in it may no longer be current.
Quebec says it will align its tax system with the federal government by increasing the percentage of capital gains subject to taxation.
Like Ottawa announced in its budget Tuesday, Quebec says it will tax two-thirds rather than one-half of capital gains, which are profits made on the sale of assets.
The increase in the capital gains inclusion rate will affect gains superior to $250,000, as is the case with the federal government’s changes.
The Quebec Finance Department says the tax increase will take effect June 25.
The province says it took the decision to maintain “coherence” with the federal government’s tax system.
A major Quebec manufacturing association — Manufacturiers et Exportateurs du Québec — says the increase in the capital gains inclusion rate will hurt companies at a time when they already have to invest in reducing carbon emissions.
This report by The Canadian Press was first published April 19, 2024.
