ARTICLE · 29 MARCH 2016

Budget 2016: Hot-Button Tax Issues To Watch For

Collins Barrow National Incorporated

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Those of us in financial services in Canada are holding our breath for March 22, when Trudeau's Liberal government is set to unveil the 2016 federal budget.

CanadaTax

Scott Dupuis, CPA, CA

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Those of us in financial services in Canada are holding our breath for March 22, when Trudeau's Liberal government is set to unveil the 2016 federal budget.

The budget comes on the heels of two major tax bracket changes already in motion and amid buzz of the deficit potentially ranging in the tens of billions.

Accordingly, Canadians are eager to know how they'll be affected, so we took a look at three hot-button budget issues to watch that could influence your finances and tax planning.

A loss for capital gains recipients?

There's a lot of concern within the tax community about an increase to the inclusion rate for capital gains. Right now, if you were to incur a capital gain on a stock, for instance, you would pay taxes on half of it. In the forthcoming budget, there's a possibility that rate could leap to two-thirds or even three-quarters.

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