NCFA Statement on Capital Gains

June 14, 2024 | Documents

The National Cattle Feeders’ Association (NCFA) is disappointed with the Government of Canada’s decision to proceed with changes to the capital gains inclusion rate despite calls from Canadian farmers to delay the implementation. Announced in the federal budget, these changes are set to take effect on June 25th. This does not provide Canadian farm businesses appropriate time to fully assess the implications for farm succession tax planning and to make necessary adjustments.

NCFA urges the government to pause the implementation of these changes to allow further dialogue with the Canadian agriculture sector. The government must understand the detrimental effects these changes will have on farmers, the next generation of farmers, and consequently, Canada’s rural economy.

Read the full statement here.