Despite the Department of Finance announcing on Tuesday that the Canada Revenue Agency will proceed with administering the proposed capital gains tax changes as planned, Graham Priest, an investment advisor and portfolio manager at BlueShore Financial in North Vancouver, B.C., believes the amendments are unlikely to pass.
Priest noted that Canadians, anticipating the changes, have already sold assets and won’t be able to undo those transactions. “It hasn’t been a friendly environment for people to be putting capital at risk.” he added.
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