Canada Capital Gains Tax Changes 2024

Canada Capital Gains Tax Changes 2024. Individuals will continue to only pay tax on 50 per cent of any capital gains up to $250,000 per year. In budget 2024, the federal government announced changes to capital gains taxation to make canada’s tax system fairer.

The proposed changes with respect to foreign affiliates and the computation of hybrid surplus were previously described in a backgrounder released with the june. For more information, see residential property flipping rule or schedule 3, capital gains (or losses).