I think the federal government is reading our emails!
A day after we emailed about the mess with capital gains, the government announced they are deferring the date on which the capital gains inclusion rate would increase from one-half to two-thirds on certain capital gains. The old effective date was June 25, 2024 and is now January 1, 2026.
The link to the government announcement for those that like to read this kind of stuff is Government of Canada announces deferral in implementation of change to capital gains inclusion rate – Canada.ca.
If you have an accountant, give them a hug. Their lives just because a lot easier.
If you have clients wish investment property, call them to tell them the good news. They may not be selling for a while, but this is still good news. And at the very least your clients will know you are thinking of them.
Who knows, if the Conservatives win the next election this whole increase may go away.
Thank you, chat soon!