Skip to Main content

6.98°^C Vancouver

News Entertainment Videos Shows Podcast Contact Us

Ads

Jan 31, 2025 5:20 PM - Connect Newsroom

Canada Delays Capital Gains Tax Increase Until 2026

Share On

canada-delays-capital-gains-tax-increase-until-2026

The Trudeau government had announced this tax increase in the April 2024 budget, originally set to take effect on June 25, 2024.(Photo: The Canadian Press)

The Canadian government has postponed the capital gains tax increase to January 1, 2026.

The Trudeau government had announced this tax increase in the April 2024 budget, originally set to take effect on June 25, 2024. However, it was not officially enacted by Parliament, even though the government began collecting the increased tax from the scheduled date.

People affected by this tax expressed concerns about whether they would have to continue paying the higher capital gains tax without formal legislative approval.

The bill failed to pass the House of Commons last year due to political deadlock and stalled again this year after Prime Minister Justin Trudeau prorogued Parliament. Finance Minister Dominique Leblanc, in a press release on Friday, confirmed the postponement of the increase to 2026.

Latest news

long-wait-times-at-polling-stations-in-vancouver-during-federal-election

CanadaApr 18, 2025

Long Wait Times at Polling Stations in Vancouver During Federal Election

People had to stand in long lines for hours at some polling stations to vote in today’s federal election in Vancouver. Early voting stations opened at 9 a.m., and about half an hour later, a line formed outside the Roundhouse Community Centre in Yaletown, downtown Vancouver, where voters had to wait for an estimated two hours. Staff reported that when the doors of the community centre opened at 9 a.m., there was already a line of about 100 people. As a result, some people were turned away. During this time, staff could be heard apologizing. They explained that there were only four ballot ta

mark-carney-sets-liberal-agenda-amid-criticism-targets-trump-in-campaign-speech

CanadaApr 18, 2025

Mark Carney Sets Liberal Agenda Amid Criticism, Targets Trump in Campaign Speech

The Liberal Party of Canada, aiming to reclaim power, is set to release its official platform tomorrow, Saturday. This announcement was confirmed by Mark Carney during a campaign event in Niagara Falls. In his speech, Carney criticized U.S. President Donald Trump, stating that while America remains divided, Canada’s unity makes it stronger. During a press interaction, Carney distinguished himself from former Prime Minister Justin Trudeau. Responding to comparisons, he remarked, “I am not Justin Trudeau,” emphasizing that his leadership style and decisions are distinct. Highlighting his

ndp-faces-challenges-ahead-of-voting-day-in-canada

CanadaApr 18, 2025

NDP Faces Challenges Ahead of Voting Day in Canada

As voting day approaches in Canada, the New Democratic Party (NDP) is grappling with fluctuations in election polls. According to a three-day tracking survey conducted by Nano Research up to April 17, support for the NDP under Jagmeet Singh has dropped by 0.5 percentage points, reaching 8 percent. The competition between the Liberals and Conservatives remains intense. While campaigning in Yamachiche, Quebec, Jagmeet Singh criticized both parties. Speaking to reporters, he emphasized that the NDP is the only party prioritizing real growth in revenue and investment in Canadians, in contrast to

dgp-gaurav-yadav-confirms-arrest-of-happy-passia-in-america

WorldApr 18, 2025

DGP Gaurav Yadav Confirms Arrest of Happy Passia in America

Punjab Police DGP Gaurav Yadav has confirmed the arrest of Harpreet Singh, alias Happy Passia, a most-wanted individual in the state, in the United States. He announced that preparations are underway to bring him back to India to face justice. The U.S. investigative agency FBI has also verified the arrest, stating that Harpreet Singh was apprehended in Sacramento. According to the FBI, Happy Passia is linked to two international terrorist organizations and had entered the U.S. illegally. He is reportedly responsible for terrorist activities in Punjab, India.

advance-voting-begins-in-canada-ahead-of-april-28-election

CanadaApr 18, 2025

Advance Voting Begins in Canada Ahead of April 28 Election

Advance voting has officially begun in Canada, giving registered voters the opportunity to cast their ballots early at designated polling stations. Advance polls will remain open from 9 a.m. to 9 p.m. for four consecutive days, concluding on Monday. As of this month, nearly 130,000 Canadians have already voted using special ballots, according to figures released by Elections Canada. Special ballots allow voters who prefer not to wait until Election Day or advance polling days to cast their vote early. In other election-related news, the final English-language debate took place in Montreal las

Ads

Related News

post card alt

Long Wait Times at Polling Stations in Vancouver During Federal Election

People had to stand in long lines for hours at some polling stations to vote in today’s federal election in Vancouver. Early voting stations opened at 9 a.m., and about half an hour later, a line formed outside the Roundhouse Community Centre in Yaletown, downtown Vancouver, where voters had to wait for an estimated two hours. Staff reported that when the doors of the community centre opened at 9 a.m., there was already a line of about 100 people. As a result, some people were turned away. During this time, staff could be heard apologizing. They explained that there were only four ballot ta

post card alt

Mark Carney Sets Liberal Agenda Amid Criticism, Targets Trump in Campaign Speech

The Liberal Party of Canada, aiming to reclaim power, is set to release its official platform tomorrow, Saturday. This announcement was confirmed by Mark Carney during a campaign event in Niagara Falls. In his speech, Carney criticized U.S. President Donald Trump, stating that while America remains divided, Canada’s unity makes it stronger. During a press interaction, Carney distinguished himself from former Prime Minister Justin Trudeau. Responding to comparisons, he remarked, “I am not Justin Trudeau,” emphasizing that his leadership style and decisions are distinct. Highlighting his

post card alt

NDP Faces Challenges Ahead of Voting Day in Canada

As voting day approaches in Canada, the New Democratic Party (NDP) is grappling with fluctuations in election polls. According to a three-day tracking survey conducted by Nano Research up to April 17, support for the NDP under Jagmeet Singh has dropped by 0.5 percentage points, reaching 8 percent. The competition between the Liberals and Conservatives remains intense. While campaigning in Yamachiche, Quebec, Jagmeet Singh criticized both parties. Speaking to reporters, he emphasized that the NDP is the only party prioritizing real growth in revenue and investment in Canadians, in contrast to

Ads

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

Surrey Nagar Kirtan

BC Children's Hospital