Conservative Leader Pierre Poilievre pledges that if he becomes prime minister, individuals and businesses selling assets won’t pay capital gains tax if they reinvest the proceeds in Canada. The proposal would allow companies that reinvest in active Canadian businesses to defer any capital gains tax, according to a press release by the Conservative Party of Canada on March 30.
The release noted that investors won’t be taxed until later, when they either cash out or move the money out of the country.
Dubbed as the Canada First Reinvestment Tax Cut, the proposed tax break will be available on any capital gains reinvested during the 18-month period between July 1, 2025, and Dec. 31, 2026….