Finance Minister Bill Morneau recently announced that the 2017 Federal Budget will be tabled on March 22, 2017. A popular discussion point relates to recent speculation regarding a possible increase in the capital gains inclusion rate. Historically, changes in the capital gains inclusion rate have been effective on the date of the budget, rather than applied retroactively. Of note, there was also similar speculation about such a change prior to the 2016 Federal Budget, however, no such change was implemented in 2016. At this point, we are unable to comment on the likelihood of an increase in the capital gains inclusion rate.
In preparation for the upcoming personal tax season, I have included a link to the great E&Y Canada – Managing Your Personal Taxes.
Here is a link to the guide: