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Prime Minister Justin Trudeau takes questions at a town hall meeting in Calgary, Alta., Tuesday, Jan. 24, 2017. THE CANADIAN PRESS/Jeff McIntosh
Prime Minister Justin Trudeau takes questions at a town hall meeting in Calgary, Alta., Tuesday, Jan. 24, 2017. THE CANADIAN PRESS/Jeff McIntosh

‘Soak the rich’ federal budget could be coming soon, says Rosenberg Add to ...

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Gluskin Sheff + Associates chief economist David Rosenberg says he has been hearing whispers that the federal Liberals will table a “soak the rich” budget in the weeks ahead – one that includes a steep hike in the tax rate on capital gains.

Mr. Rosenberg said in his morning note that the capital-gains inclusion rate could rise to 75 per cent from the current 50 per cent, which has been the rate since 2000. Returning the rate to that level, combined with the most recent uptick in the top marginal personal income tax rate, would mean that Ontario investors would pay as much as 40 per cent tax on capital gains.

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