PBO estimates capital gain tax change to bring in $17.4B in revenue over five years

OTTAWA — The parliamentary budget officer estimates the Liberals’ increase to the capital gains inclusion rate will bring in $17.4 billion in revenue over five years.

That’s two billion dollars less than the federal government projected in its spring budget.

The Liberal government proposed making two-thirds rather than one-half of capital gains — the profit made on the sale of assets — taxable.

The proposal was met with pushback from business groups as well as physicians who expect to be affected by the change.