TORONTO — The federal budget is being met with disdain from Canada’s innovation industry, including tech darling Shopify, which called the capital gains measures in the fiscal plan a potential cause of “irreparable harm.”
The sector is disappointed that the Liberal government’s budget tabled Tuesday includes a proposed increase to the proportion of capital gain earnings on which businesses pay income tax, to two-thirds from one half.
The hike would also be applied to individuals for capital gains earnings above $250,000 in a year.
It said the increase would only impact the wealthiest 0.13 per cent and result in $19.3 billion in revenue over the next five years. However,
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