The Deputy Prime Minister will provide an update on the government’s economic plan. She will be joined by the Minister of Health, Mark Holland, the Minister of Families, Children and Social Development, Jenna Sudds, and the President of the Treasury Board, Anita Anand.
I will speak first about our government’s action to improve tax fairness for all Canadians, the Canada Growth Fund’s newest investment, making mortgages more affordable, and the Budget Implementation Act.
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, welcomed the announcement of the Canada Growth Fund’s fourth investment.
In Budget 2024, the federal government announced it would amend mortgage rules to allow up to 30 year mortgages for first-time homebuyers purchasing new builds.
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, welcomed the International Monetary Fund (IMF)’s Staff Concluding Statement of the 2024 Article IV Mission.
I am really happy to announce that the federal government is investing $6.97 million in the Peel Region through the Investing in Canada Infrastructure Program.
One half of a capital gain is currently included in computing a taxpayer's income. This is referred to as the capital gains inclusion rate. The current one-half inclusion rate also applies to capital losses.
The government is committed to tax fairness for Canadians. Today, Canadians pay tax on the income from their job. But currently, they only pay taxes on 50 per cent of capital gains, which is the profit generally made when an asset, such as stocks or a rental property, is sold.