Capital Gains Taxation Changes in Budget 2024

Government Proposes Increase in Inclusion Rate

Impactful Implications for Investors and Taxpayers

In a significant move that will impact investors and taxpayers, the federal government has announced changes to capital gains taxation in Budget 2024. The proposed changes, which aim to make the tax system fairer, include an increase in the inclusion rate from 50% to 67%. This means that a greater portion of capital gains realized on the sale of certain assets will be subject to income tax.