ACC Media Release: 4/29/2024

Federal Budget 2024

EDMONTON – Alberta Chambers of Commerce (ACC) President and CEO Shauna Feth released the following statement on the proposed capital gains tax inclusion rate increase from 50% to 66% for corporations, trusts and annual capital gains in excess of $250,000.

“The ACC network represents more than 22,000 businesses. Based on the immediate feedback we’ve received from our members, the scope of potential impacts of a tax hike on capital gains has been severely underestimated by the federal government.

"What we’re hearing is that these changes would impact many small businesses owners and individuals that structure their earnings through a corporation.

"Most small business owners are not extremely wealthy. They do, however, take risk and make investments that put roofs over our heads and food on our tables, and help us to stay healthy.

"Pushing through these tax hikes would disincentive individuals from making these important contributions to our economy and Canadians’ quality of life. Small business investment across a wide range of industries would be at risk – from residential housing construction to agriculture to healthcare.

"We strongly urge the federal government to reconsider making these changes. The unintended consequences could be significant, affecting many more Canadians than those paying more taxes.”  

Read ACC's letter to the Federal Finance Minister