OTTAWA, ON: The Canadian Taxpayers Federation is calling on MPs to vote against the capital gains tax motion being introduced in the House of Commons. 

“This government has a one-page playbook: take more money from taxpayers,” said Franco Terrazzano, CTF Federal Director. “The capital gains tax hike will hurt doctors, successful Canadian businesses and people getting ready to retire, but it won’t do a single thing to make life more affordable.” 

Finance Minister Chrystia Freeland introduced a motion on the capital gains tax hike to the House of Commons today. 

“The government says that even if a bill has not yet passed, the change will take effect on June 25,” as reported by the Canadian Press. 

Associations have warned about the negative impacts of the capital gains tax hike. 

The “federal government’s [capital gains] tax move puts access to health care at risk,” according to the Canadian Medical Association, who warned the increase “will have adverse effects on physician recruitment and retention across the country.”

The Council of Canadian Innovators called on “the federal government to scrap this disastrous tax hike on investment.”

“The Trudeau government has a spending problem, not a revenue problem, and doesn’t deserve a penny more from Canadians,” Terrazzano said. “With Trudeau spending $535 billion this year, he’s going to blow through this extra capital gains tax cash in less than a week.”