Quebec to follow Ottawa's lead on capital gains taxation
Quebec says it will align its tax system with the federal government by increasing the percentage of capital gains subject to taxation.
Like Ottawa announced in its budget Tuesday, Quebec says it will tax two-thirds rather than one-half of capital gains, which are profits made on the sale of assets.
The increase in the capital gains inclusion rate will affect gains superior to $250,000, as is the case with the federal government's changes.
The Quebec Finance Department says the tax increase will take effect June 25.
The province says it took the decision to maintain "coherence" with the federal government's tax system.
A major Quebec manufacturing association -- Manufacturiers et Exportateurs du Quebec -- says the increase in the capital gains inclusion rate will hurt companies at a time when they already have to invest in reducing carbon emissions.
- This report by The Canadian Press was first published April 19, 2024.
CTVNews.ca Top Stories
Doctors concerned about potential spread of bird flu in Canada
H5N1 or avian flu has been detected at dozens of US dairy farms and Canadian experts are urging surveillance on our side of the border too.
Prince William and Kate release photo of daughter Charlotte to mark ninth birthday
Prince William and his wife Kate released a picture of their daughter Charlotte to mark the princess's ninth birthday on Thursday.
Bank of Canada's Macklem says federal budget won't have much impact on inflation
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.
This Canadian restaurant just lowered its prices. Here's how it did it
A Canadian restaurant lowered its prices this week, and though news of price tags dropping rather than climbing sounds unusual, the business strategy in this case is not, according to experts in the field.
Concerns about Plexiglas prompt inspections at some Loblaws locations in Ottawa
Inspections are underway at more than one Loblaws location in Ottawa after complaints were filed about tall Plexiglas barriers.
Should I invest with a human or a robot? Traditional firms vs. robo-advisors
Investors considering where to park their money have a choice: go with a traditional financial adviser or trust in an algorithm. Here are the pros and cons of both.
Five human skeletons, missing hands and feet, found outside house of Nazi leader Hermann Goring
Archeologists have unearthed the skeletons of five people, missing their hands and feet, at a former Nazi military base in Poland.
Imagine living in a 4-foot body that doesn't develop chronic diseases
Nathaly Paola Castro Torres has a rare disorder called Laron syndrome that is caused by a genetic mutation. It stunts her growth but also provides a hidden silver lining: Her body is protected from chronic diseases such as cancer that often take life away long before old age.
'Oh, there you go': Tyler Black, son of veteran broadcaster Rod Black, has memorable Major League Baseball debut
Canadian baseball player Tyler Black made a major splash in his first-ever big league game for the Milwaukee Brewers on Tuesday night.