* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, October 9, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    MSG Entertainment Takes Radio City Music Hall Into the Future With Introduction of Sphere Immersive Sound – Business Wire

    MSG Entertainment Transforms Radio City Music Hall with Cutting-Edge Sphere Immersive Sound Experience

    Israel’s Entertainment Industry Is Being Targeted by the Left in Hollywood and the Right at Home – The Wall Street Journal

    Inside the Fierce Clash Shaping Israel’s Entertainment Industry: Hollywood vs. Local Voices

    Offset Is Ready To Finalize Divorce With Cardi B for a Major Reason – Yahoo

    Offset Poised to Finalize Divorce from Cardi B for a Major Reason

    Beyond the Stage: 8 Performing Arts Centers Driving Entertainment and Education – Livability.com

    Beyond the Stage: 8 Performing Arts Centers Transforming Entertainment and Education

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Charlie Hunnam Reflects on Playing a Serial Killer in Monster: The Ed Gein Story – Yahoo

    Charlie Hunnam Reveals the Dark Challenges of Playing a Serial Killer in Monster: The Ed Gein Story

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology

    Wisconsin Dairy Leads the Way with Cutting-Edge Technology Systems

    ENERCON and Biome collaborate for wind turbine noise reduction technology – Yahoo Finance

    ENERCON and Biome Join Forces to Revolutionize Wind Turbine Noise Reduction

    US and investors gambling on unproven nuclear technology, warn experts – Financial Times

    US and investors gambling on unproven nuclear technology, warn experts – Financial Times

    Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

    Could Light-Speed Analog Computing Transform the Future of Technology?

    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Forget Cowbells. Cows Wear High-Tech Collars Now. – The New York Times

    Ditch the Cowbells: Discover the High-Tech Collars Transforming Cattle Care

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    MSG Entertainment Takes Radio City Music Hall Into the Future With Introduction of Sphere Immersive Sound – Business Wire

    MSG Entertainment Transforms Radio City Music Hall with Cutting-Edge Sphere Immersive Sound Experience

    Israel’s Entertainment Industry Is Being Targeted by the Left in Hollywood and the Right at Home – The Wall Street Journal

    Inside the Fierce Clash Shaping Israel’s Entertainment Industry: Hollywood vs. Local Voices

    Offset Is Ready To Finalize Divorce With Cardi B for a Major Reason – Yahoo

    Offset Poised to Finalize Divorce from Cardi B for a Major Reason

    Beyond the Stage: 8 Performing Arts Centers Driving Entertainment and Education – Livability.com

    Beyond the Stage: 8 Performing Arts Centers Transforming Entertainment and Education

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Charlie Hunnam Reflects on Playing a Serial Killer in Monster: The Ed Gein Story – Yahoo

    Charlie Hunnam Reveals the Dark Challenges of Playing a Serial Killer in Monster: The Ed Gein Story

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology

    Wisconsin Dairy Leads the Way with Cutting-Edge Technology Systems

    ENERCON and Biome collaborate for wind turbine noise reduction technology – Yahoo Finance

    ENERCON and Biome Join Forces to Revolutionize Wind Turbine Noise Reduction

    US and investors gambling on unproven nuclear technology, warn experts – Financial Times

    US and investors gambling on unproven nuclear technology, warn experts – Financial Times

    Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

    Could Light-Speed Analog Computing Transform the Future of Technology?

    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Forget Cowbells. Cows Wear High-Tech Collars Now. – The New York Times

    Ditch the Cowbells: Discover the High-Tech Collars Transforming Cattle Care

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Trudeau government proposes more taxes on wealthy Canadians to fund housing

April 17, 2024
in Business
Trudeau government proposes more taxes on wealthy Canadians to fund housing
Share on FacebookShare on Twitter

By Promit Mukherjee, David Ljunggren and Fergal Smith

OTTAWA (Reuters) -Canada on Tuesday revealed a new tax on wealthy individuals that will bring in billions of dollars over the next five years to help fund housing programs designed to win over a disgruntled voter base.

In its annual federal budget, the Liberal government of Prime Minister Justin Trudeau also said that despite the increase in spending the budget deficit for 2023/24 would remain stable before gradually falling.

The government had already outlined its housing plans in the weeks running up to the budget release with the main new element an increase in the capital gains tax. The budget also promised a flurry of measures to unlock government lands across the country for housing.

“The wealthy, who tend to earn relatively more income from capital gains, disproportionately benefit compared to the middle class,” said Finance Minister Chrystia Freeland, adding the new measure would only affect 0.13% on the population.

Under the new measure, people realising capital tax gains of more than C$250,000 ($180,804) will pay tax on the excess at a rate of 66.7%, up from 50% at present. Similarly, all capital gains realised by companies and trusts will be taxed at 66.7%.

The additional tax will bump up government revenue by close to C$20 billion over the next five years and help shrink the government’s fiscal deficit to C$20 billion by 2028-29, or half of what it was last year, the document said.

Trudeau’s minority Liberal government is being kept in power by the smaller left-leaning New Democrats, whose leader Jagmeet Singh told reporters he would study the document and possibly demand changes before deciding whether to back the government.

A string of recent polls show the Liberals and New Democrats would lose badly to the official opposition Conservatives in an election due by end-October 2025, meaning it is highly unlikely Singh would bring down Trudeau now.

The Conservatives are promising to slash what they call wasteful Liberal spending and eliminate the deficit.

FISCAL ANCHORS

Since the start of April, the government has promised close to C$42 billion primarily to tackle a housing crisis that, in part, has hurt Trudeau politically.

A higher share of revenue from the expansion of taxes will also help the government in meeting its fiscal anchors, said Robert Asselin, senior vice president of policy at Business Council of Canada, who nevertheless criticized the tax on the wealthy.

“Wealthy people always have a choice to invest here or somewhere,” he said, adding that the increase in the tax would chase capital away from the country at a time when it is desperately needed.

Freeland said the budget would ensure the government kept to the three main fiscal anchors it laid out last November.

These were to cap the fiscal deficit at C$40.1 billion ($29.13 billion) in the 2023-24 fiscal year, lower debt as a share of GDP for 2024-25 fiscal year and keep the ratio declining thereafter, and keep the deficit from exceeding 1% of GDP from 2026-27.

The new tax measure comes at a time when the government’s spending shows signs of a permanent increase beyond the pandemic blip that distorted its fiscal goalposts.

Its overall expenses has also increased to over 17% of GDP in 2023-24 and is projected to stay around that level from what was projected before the pandemic.

“It’s a permanent shift in spending… not related to the pandemic anymore,” said Randall Bartlett, senior director of Canadian Economics with Desjardins Group.

Since the economic outlook has not improved, it has to increase taxes to pay for that spending, he added.

The budget says Canada will go ahead with a planned digital services tax, which Washington opposes.

© Reuters. Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland presents the federal government budget for fiscal year 2024-25, in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada, April 16, 2024.  REUTERS/Patrick Doyle

It also promised to introduce a framework legislation for open banking that would offer a secure way to transfer the financial data of users to approved third parties.

($1=1.3820 Canadian dollars)

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Investing.com – https://www.investing.com/news/economy/canadas-federal-budget-likely-to-up-taxes-to-stick-to-fiscal-goals-3379574

Tags: businessgovernmentTrudeau
Previous Post

Morning Bid: Powell dashes easing hopes, markets dented again

Next Post

Japan firms business mood slips as weak yen squeezes households

FIGO World Congress 2025 closes in Cape Town with renewed global commitment – FIGO.org

Global Leaders Unite in Cape Town to Close FIGO World Congress 2025 with Renewed Commitment

October 9, 2025
Our economic future is a black box – marketplace.org

Our economic future is a black box – marketplace.org

October 9, 2025
MSG Entertainment Takes Radio City Music Hall Into the Future With Introduction of Sphere Immersive Sound – Business Wire

MSG Entertainment Transforms Radio City Music Hall with Cutting-Edge Sphere Immersive Sound Experience

October 9, 2025
See photos from Pitt’s Health Sciences Alumni Weekend – University of Pittsburgh

See photos from Pitt’s Health Sciences Alumni Weekend – University of Pittsburgh

October 9, 2025
U.S. politics is broken because of MAGA Republicans and hard-line Democrats – AJC.com

How MAGA Republicans and Hard-Line Democrats Are Driving U.S. Politics to the Brink

October 9, 2025
Research team explores inclusion at conferences – EurekAlert!

Research team explores inclusion at conferences – EurekAlert!

October 9, 2025
If you feel you don’t really belong, here is some science-based advice – New Scientist

If you feel you don’t really belong, here is some science-based advice – New Scientist

October 9, 2025
Opinion | The most important Nobel prizes – The Washington Post

Opinion | The most important Nobel prizes – The Washington Post

October 9, 2025
Video: Owner Lists Shih Tzu’s ‘Toxic Traits’ & Internet Can’t Relate to It Enough – Yahoo

Watch: Owner Reveals Hilarious ‘Toxic Traits’ of Their Shih Tzu That Have Everyone Talking

October 9, 2025

Wisconsin Dairy Leads the Way with Cutting-Edge Technology Systems

October 9, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (859)
  • Economy (880)
  • Entertainment (21,753)
  • General (17,501)
  • Health (9,922)
  • Lifestyle (892)
  • News (22,149)
  • People (881)
  • Politics (890)
  • Science (16,090)
  • Sports (21,380)
  • Technology (15,860)
  • World (863)

Recent News

FIGO World Congress 2025 closes in Cape Town with renewed global commitment – FIGO.org

Global Leaders Unite in Cape Town to Close FIGO World Congress 2025 with Renewed Commitment

October 9, 2025
Our economic future is a black box – marketplace.org

Our economic future is a black box – marketplace.org

October 9, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version