National

Freeland says she's abandoning capital gains tax change because of Trump

Darpan News Desk The Canadian Press, 23 Jan, 2025 02:56 PM

Former finance minister Chrystia Freeland says her promise to repeal changes to the capital gains tax was made in response to Donald Trump's election in the United States.

Freeland is running to be the next leader of the Liberal party and the next prime minister.

She was responding to reports earlier this week that said she'd reverse the capital gains changes she'd once endorsed if she wins the leadership.

We have a fantastic team of Liberals. And I can’t wait to get to work with @viraniarif and @HonAhmedHussen to renew the Liberal Party of Canada and return power to the grassroots.

Sign up to vote. https://t.co/OX0nImMAZ4 pic.twitter.com/JeGe3oUxIc
— Chrystia Freeland (@cafreeland) January 23, 2025

Freeland told reporters in French that her experience renegotiating NAFTA taught her the Trump administration aims to create uncertainty in the world in order to attract investment to the United States.

She said that in light of that threat, Canada needs to change its own policies to respond in the event Trump relaxes capital gains laws in the United States.

The Biden administration had proposed increases to capital gains for 2025.

Prev Next

MORE National ARTICLES

Early ski season for resorts

Several ski resorts across B-C -- including Whistler-Blackcomb, Big White and Cypress Mountain -- are starting their season early thanks to fresh powder. Big White says the resort outside Kelowna is set to open tomorrow, six days ahead of schedule, with an alpine base of 104-centimetres.

Early ski season for resorts

Cariboo Gold Mine in Wells gets approval, but a First Nation is opposed

An operating permit has been granted for the Cariboo Gold Mine in central British Columbia, a project that's expected to process 1.1 million tonnes of gold-bearing ore a year but is still opposed by a First Nation. The B.C. government says in a news release that Barkerville Gold Mines, owned by Osisko Development Corp., was issued the permit for the underground mine in a process that took 13 months to complete.

Cariboo Gold Mine in Wells gets approval, but a First Nation is opposed

Border agency detained dozens of 'forced labour' cargo shipments. Now it's being sued

The Canada Border Services Agency provided the figures after being asked about a lawsuit against it by a Victoria solar firm, which says a shipment of solar panels worth more than $5 million was wrongfully detained over false suspicions they were made with forced labour in China.

Border agency detained dozens of 'forced labour' cargo shipments. Now it's being sued

Consul general reiterates he had no influence on $9M Manhattan condo purchase

Tom Clark was summoned back to testify before a parliamentary committee looking into the purchase after media reports earlier this month indicated he had raised concerns about the former residence, despite previously saying he never expressed a desire to move into a new one.

Consul general reiterates he had no influence on $9M Manhattan condo purchase

Climate protesters arrested outside Pierre Poilievre's official residence in Ottawa

Ottawa police say two people were arrested this morning after an "unlawful" demonstration outside Stornoway, the official residence the Opposition leader. Greenpeace Canada says its activists blocked Conservative Leader Pierre Poilievre's house and two of them locked themselves to a replica oil pumpjack placed in the driveway.

Climate protesters arrested outside Pierre Poilievre's official residence in Ottawa

Which items will be tax-free under the Liberals' promised GST/HST break?

The government says removing GST from these goods for a two-month period would save $100 for a family that spends $2,000 on those goods during that time. For those in provinces with HST, a family spending $2,000 would save $260.