The Canadian Federation of Independent Business (CFIB), alongside 20 other industry organizations, has formally requested the federal government to abandon plans to raise the capital gains inclusion rate. In a letter addressed to Minister of Finance Chrystia Freeland, the coalition called for more equitable tax policies to support Canadian entrepreneurs across all sectors.
Organizations including Restaurants Canada, Grain Growers of Canada, and the Canadian Medical Association joined the CFIB in advocating for changes to the proposed tax reforms. The group also urged the government to broaden access to the Canadian Entrepreneurs’ Incentive (CEI), arguing that its current exclusions are unjustified.
The CFIB expressed its support for recent announcements regarding the Lifetime Capital Gains Exemption (LCGE) and its future indexation. However, it emphasized that the CEI should not be restricted to specific sectors, as all business owners, regardless of their industry, deserve access to supportive tax policies.
