Canadian PM proposes capital gains tax on stocks and cryptocurrencies

According to BlockBeats, on April 29, Finbold reported that Canadian Prime Minister Trudeau proposed a new capital gains tax, which will range from 50% to 67%, depending on the taxpayer's income level. According to the Canadian Revenue Agency website, common capital properties include villas, securities (such as stocks, bonds, cryptocurrencies and mutual fund trust units), land and buildings. Starting June 25, the proposed changes will affect individuals with capital gains exceeding 250,000 Canadian dollars per year. Most of the gains of companies and trusts will also face increased tax liabilities. In Canada, taxpayers do not need to pay taxes on the purchase or holding of cryptocurrencies. Capital gains or business income from cryptocurrency sales, mining activities or other cryptocurrency-related transactions are taxed. Individual cryptocurrency holders are required to pay taxes on 50% of their total capital gains, while professional (day) traders are required to pay taxes on 100% of their profits.