TORONTO — The federal budget is being met with distain from Canada’s innovation industry, including tech darling Shopify, which both positioned capital gains measures embedded in the fiscal plan as a potential cause of “irreparable harm.”
The sector is disappointed thatthe Liberals’ budget tabled Tuesday includes a proposed increase to the proportion of capital gain earnings businesses pay income tax on to two-thirds from one half.
The party is also pitching the hike be applied to individuals for capital gains earnings above $250,000 in a year and come into effect on June 25.
It said the increase would only impact the wealthiest 0.13 per cent and result in $19.3
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