budget 2024

Capital gains changes could have ‘irreversible’ effects, business groups warn – National

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Capital gains changes could have ‘irreversible’ effects, business groups warn – National

Business groups are warning Finance Minister Chrystia Freeland that increasing Canada’s capital gains inclusion rate will have “significant knock-on impacts” if implemented with possible “irreversible repercussions.” Six of the country’s largest industry organizations wrote in an open letter to Freeland Thursday that the proposed hike will impede economic growth and come at the expense of … Read more

Budget 2024 won’t have much effect on inflation, Bank of Canada head says – National

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Budget 2024 won’t have much effect on inflation, Bank of Canada head says – National

By Staff The Canadian Press Posted May 1, 2024 6:19 pm 1 min read Descrease article font size Increase article font size Bank of Canada governor Tiff Macklem says he doesn’t think the federal budget tabled last month will have much of an effect on inflation. Macklem was testifying at a Senate committee alongside senior … Read more

Capital gains tax changes aren’t in the budget bill — but still coming: Freeland – National

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Capital gains tax changes aren’t in the budget bill — but still coming: Freeland – National

A plan to change how capital gains are taxed in Canada is not included in the Liberals’ bill to implement the 2024 federal budget, but Finance Minister Chrystia Freeland says the government is still committed to the plan. Freeland tabled the Budget Implementation Act in the House of Commons on Tuesday, which included plans to … Read more

What is a halal mortgage? How interest-free home financing works in Canada – National

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What is a halal mortgage? How interest-free home financing works in Canada – National

The federal government is looking at making Islamic home financing increasingly accessible to help more Canadians break into the housing market. As part of the 2024 federal budget that was released last week, Ottawa said it is “exploring new measures to expand access to alternative financing products, like halal mortgages.” Last month, the federal government started consulting … Read more

Capital gains tax change will add ‘financial strain’ on doctors: CMA – National

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Capital gains tax change will add ‘financial strain’ on doctors: CMA – National

The Canadian Medical Association is asking the federal government to reconsider its proposed changes to capital gains taxation, arguing it will affect doctors’ retirement savings. Kathleen Ross, the association’s president, says many doctors incorporate their medical practices and invest for retirement inside their corporations. The proposed changes would increase taxes on those investments, something the … Read more

Budget 2024 failed to spark ‘political reboot’ for Liberals, polling suggests – National

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Budget 2024 failed to spark ‘political reboot’ for Liberals, polling suggests – National

The 2024 federal budget failed to spark a much-needed rebound in the polls for Prime Minister Justin Trudeau’s trailing Liberal party, according to new Ipsos polling released Tuesday. Canadian reaction to the Liberal government’s latest spending plans shows an historic challenge ahead of the governing party as it tries to keep the reins of government … Read more

Liberals having ‘very good’ budget talks with NDP, says Freeland – National

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Liberals having ‘very good’ budget talks with NDP, says Freeland – National

Descrease article font size Increase article font size The Liberal government is having “very good conversations” with the New Democratic Party over getting this year’s federal budget through the House of Commons, Finance Minister Chrystia Freeland told reporters in Montreal on Monday. Freeland was asked if the Liberals were willing to go to polls if … Read more

Is the ‘Seinfeld theory’ coming for Justin Trudeau’s political future? – National

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Is the ‘Seinfeld theory’ coming for Justin Trudeau’s political future? – National

The Trudeau government released its 2024 budget with a promise to bring “fairness for every generation” by pledging billions on housing and introducing a new capital gains tax on the wealthy, as part of its strategy to win back younger voters. But former Liberal deputy prime minister John Manley doubts the major spending geared at … Read more

Are cellphone bills falling in Canada? Critics question Ottawa’s claims  – National

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Are cellphone bills falling in Canada? Critics question Ottawa’s claims  – National

As the federal government touts measures meant to curb the cost of Canadians’ cellphone bills, some say there is a disconnect between what consumers are paying and the rhetoric surrounding price declines. On Thursday, Prime Minister Justin Trudeau drew the ire of social media users when he posted on X, formerly known as Twitter, that … Read more

Carbon rebate labelling in bank deposits fuelling confusion, minister says – National

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Carbon rebate labelling in bank deposits fuelling confusion, minister says – National

Canadian banks that refuse to identify the carbon rebate by name when doing direct deposits are forcing the government to change the law to make them do it, says Environment Minister Steven Guilbeault. Guilbeault is taking the stand after Tuesday’s federal budget promised to amend the Financial Administration Act so government payments accepted for deposit … Read more