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You are here: Home / Business / Arts, charities likely to suffer due to capital gains tax changes in federal budget

Kelly Gallagher / April 19, 2024

Arts, charities likely to suffer due to capital gains tax changes in federal budget

The arts community along with many other worthy community endeavors had a tough day on Wednesday when the federal government’s new budget was released. A very tough day.

The budget has drawn fairly consistent criticism for its approach by raising the inclusion rate on capital gains. In short it targets those in the upper income category, the same people who are the primary funders of the arts, educational institutions, hospital foundations and so on.

Just look at the names on the buildings around your community. Those are the people who Chrystia Freeland thinks should redirect their earnings to her rather than the local museum, theatre, university or gallery.

Beyond that, if you think it’s hard to find a doctor today, just wait until next year. Professionals who operate through what is known as a “prof corp” were especially targeted and doctors have the most portable skills. Plenty already moved the States. This will accelerate the flow.

Listen up actors, visual artists and dancers. It is time to join the local Chamber of Commerce or CFIB to help convince Freeland and Trudeau to get their pail out of our well.

Filed Under: Business, Community, Paul Martin Saskatchewan

Kelly Gallagher

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