Skip to Main content

17.74°^C Vancouver

News Entertainment Sports Videos Shows Podcast Contact Us

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

Fort St. John RCMP investigate second targeted drive-by shooting in recent weeks

RCMP are investigating a targeted drive-by shooting in Fort St. John that damaged several properties but did not result in any reported injuries. The incident marks the second targeted shooting in the city within the past few weeks. According to Fort St. John RCMP, officers responded to reports of gunfire at about 1:37 a.m. Thursday in the 9800 block of 108 Avenue, near the city's downtown area. Investigators found bullet damage to a travel trailer, two nearby homes and a vehicle. Police said no injuries were reported. As of publication, investigators have not released a description of any sus

federal-government-restores-full-health-coverage-for-refugees-and-asylum-claimants

CanadaAug 06, 2026

Federal government restores full health coverage for refugees and asylum claimants

The federal government under Prime Minister Mark Carney has reversed recent cuts to health coverage for refugees and asylum claimants, restoring full benefits under the Interim Federal Health Program. New rules introduced on May 1, 2026 required eligible refugees to pay a $4 co-payment for prescription medications. The changes also required them to cover 30 per cent of the cost of supplemental services, including dental care, vision care, physiotherapy and mental health services. The policy drew criticism from frontline physicians, human rights organizations and community advocates, who argued

rcmp-warn-western-canada-trucking-businesses-about-credit-card-fraud-scheme

CanadaAug 06, 2026

RCMP warn Western Canada trucking businesses about credit card fraud scheme

The Saskatchewan RCMP is warning trucking and transportation-related businesses across Western Canada about a credit card fraud scheme targeting commercial suppliers. According to an RCMP news release, suspects are contacting businesses by phone and using fraudulent credit cards to purchase truck tires, engine oil, trailer parts and other high-value items. Police say the fraud typically begins with a phone order and payment by credit card. The initial transaction may appear as approved or pending, prompting businesses to ship the goods by courier. After the shipment is delivered, the credit ca

rustad-criticizes-b-c-premiers-public-response-as-wildfire-evacuations-continue

Rustad criticizes B.C. premier's public response as wildfire evacuations continue

B.C. Conservative Leader John Rustad has criticized Premier David Eby over his public response as thousands of people across British Columbia remain under evacuation orders because of ongoing wildfires. Rustad said it was unacceptable that the premier had not addressed the public while many residents remain displaced and families are uncertain whether their homes have survived. He described the situation as a failure of leadership, saying people affected by the fires expect clear answers and support from the province's top elected official. According to statements released by the B.C. Conserva

modi-netanyahu-discuss-west-asia-developments-in-phone-call

IndiaAug 06, 2026

Modi, Netanyahu discuss West Asia developments in phone call

Indian Prime Minister Narendra Modi and Israeli Prime Minister Benjamin Netanyahu spoke by telephone on Thursday to discuss recent developments in West Asia and the current regional situation. According to information released by Indian authorities, the two leaders also reviewed ongoing cooperation under the India–Israel Strategic Partnership. They reaffirmed their commitment to strengthening bilateral cooperation across multiple sectors. The conversation comes as both countries continue regular high-level engagement on regional and bilateral issues. Prime Minister Modi last spoke with Netan

Related News

Federal government restores full health coverage for refugees and asylum claimants

Federal government restores full health coverage for refugees and asylum claimants

The federal government under Prime Minister Mark Carney has reversed recent cuts to health coverage for refugees and asylum claimants, restoring full benefits under the Interim Federal Health Program. New rules introduced on May 1, 2026 required eligible refugees to pay a $4 co-payment for prescription medications. The changes also required them to cover 30 per cent of the cost of supplemental services, including dental care, vision care, physiotherapy and mental health services. The policy drew criticism from frontline physicians, human rights organizations and community advocates, who argued

RCMP warn Western Canada trucking businesses about credit card fraud scheme

RCMP warn Western Canada trucking businesses about credit card fraud scheme

The Saskatchewan RCMP is warning trucking and transportation-related businesses across Western Canada about a credit card fraud scheme targeting commercial suppliers. According to an RCMP news release, suspects are contacting businesses by phone and using fraudulent credit cards to purchase truck tires, engine oil, trailer parts and other high-value items. Police say the fraud typically begins with a phone order and payment by credit card. The initial transaction may appear as approved or pending, prompting businesses to ship the goods by courier. After the shipment is delivered, the credit ca

Toronto police arrest two youths in second shooting at U.S. Consulate

Toronto police arrest two youths in second shooting at U.S. Consulate

Toronto Police say they have arrested two youths in connection with the second recent shooting targeting the United States Consulate in Toronto, including one suspect who is 15 years old. Speaking at a news conference Thursday, Toronto Police Chief Myron Demkiw said the arrests relate to the July 27 shooting. The two suspects are facing multiple charges, including allegedly breaching court-ordered release conditions. Police have not released their identities because of legal restrictions, including provisions that protect the identity of young persons. According to Toronto Police, investigator

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

Broadcasting Notice of Consultation

BC Children's Hospital