Proposed capital gains tax increase

Dear Fellow Blackstone Lakers

In any diverse community there will be divergent views and priorities. However, this topic may be the closest to unanimity we will ever get!

Our membership in the Georgian Bay Association (GBA) opens up an advocacy capacity we could never muster ourselves. If you feel strongly about this issue, the template prepared by GBA is excellent. The GBA has built a tool that will allow you to send a template email to your Member of Parliament (MP) regarding the proposed changes to the capital gains tax. 

Erik

P.S. Swim season has begun!

From the GBA:

Proposed changes introduced in the 2024 budget will see the inclusion rate for capital gains rise to 66.7% for individuals realizing more than $250,000 in annual capital gains. The federal government insists these new capital gains tax changes will only affect the wealthiest 0.13% of Canadians, but these changes will affect many families that do not fall into this target demographic, and could have a significant impact on cottage owners, particularly those who have had properties in their families for years.

There is currently an opportunity to persuade the federal government to reevaluate these changes as the government has not yet tabled legislation. Please consider sending an email to your MP to illustrate how this proposed change to the capital gains tax will affect you and the many average Canadian families who have dedicated their lives to maintaining family cottages in Georgian Bay.