The Canadian Federation of Independent Business (CFIB) has responded positively to the recent amendments to capital gains taxation introduced by the federal government.
The changes, part of the Canadian Entrepreneurs’ Incentive (CEI), aim to offset some of the negative impacts of the increased capital gains inclusion rate, offering relief to a select group of small business owners.
The CEI will now reduce the amount of capital gains paid by business owners when selling shares of their business. While CFIB appreciates the progress, they note that these changes do not fully counterbalance the inclusion rate hike's impact.