Is Raising the Capital Gains Tax a Good Idea?

In this discussion, Smart Prosperity Institute economist Mike Moffatt and journalist Cara Stern are joined by tax lawyer Bhuvana Rai with Mors Tribute and estate lawyer Birute Luksenaite with Portfolio Estate Law. They talk about the  increase to the capital gains tax introduced by the government in the federal budget on April 16, 2024. They explain what capital gains are and how they are currently taxed. They also explore the arguments for and against the increase in the inclusion rate, including the potential impact on investment, fairness, and the ability of individuals to pass on assets to their children. The conversation highlights the complexity and competing opinions surrounding this tax policy change. The conversation explores the potential impact of the proposed changes to the capital gains tax in Canada. The guests discuss the challenges and concerns surrounding the new legislation, including the short timeline for implementation and the lack of opportunity for feedback. They also delve into the specific implications for different groups, such as doctors and small business owners, who may be disproportionately affected by the changes. Guests: Bhuvana Rai Tax Lawyer with Mors Tribute https://www.morstribute.ca/Birute Luksenaite an Estate lawyer with Portfolio Estate Law https://portfoliolaw.ca/Hosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinFunded by the Neptis Foundation https://neptis.org/