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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks
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To: Kayaker who wrote (217)10/18/2000 4:30:23 PM
From: Kayaker  Read Replies (1) of 548
 
From today's mini-budget:

Mr. Speaker, as part of our approach to encouraging entrepreneurship and the creation of new jobs — in Canada, for Canadians — Budget 2000 reduced the capital-gains inclusion rate from three-quarters to two-thirds. Effective today, we will go further. We will lower the inclusion rate to 50 per cent and provide similar tax relief for employee stock option benefits.

Let me now turn to the measures. For those Canadians earning between roughly $60,000 and $100,000, we will reduce the current 29-per-cent tax rate to 26 per cent, effective Jan. 1. We will eliminate completely the deficit-reduction surtax, effective Jan. 1.

In Budget 2000, we committed to lowering the middle tax rate from 26 to 23 per cent over five years. Today, I am announcing that moderate- and middle-income Canadians won't have to wait five years, nor will they have to settle for 23 per cent. We will lower the middle rate effective this January — and we will reduce it to 22 per cent.

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