Charity Village�NewsWeek: Cover Story: "Capital Gains Tax: The Continuing Fight
Andy Levy-AjzenkopfOctober 31, 2005
By Andy Levy-Ajzenkopf
Thirty-four years ago a government worried about recessions and revenue streams saddled the Canadian public with a new tax. Charities, community organizations, and individuals have been paying ever since.
The Canadian Capital Gains Tax came into existence in 1971 with the passage of Bill C-259. Based on the slogan 'a buck is a buck', the new tax law removed the distinction between personal income and capital gains from other assets. It was enacted to help finance the growing costs of the social welfare system and government expenditures."
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