OTTAWA — The Liberal motion endorsing a hike to the capital gains tax passed Tuesday afternoon despite the federal Conservatives voting against it, arguing the changes will kill innovation in the country’s economy and punish farmers, retirees, entrepreneurs and doctors.
Together, the Liberals, Bloc Québécois, and the NDP supported the ways-and-means motion, which was enough to carry it, although the legislation has yet to be tabled despite the tax hike scheduled to come into effect on June 25th. The government has promised legislation on the tax increase this fall.
