WHEREAS in the 2024 Federal Budget tabled April 16,2024, the government announced changes to the capital gains inclusion rate from one half to two thirds for individuals, corporations and trusts.

WHEREAS on June 10, 2024, the government tabled legislation that brings these changes to Parliament on a stand-alone basis and not part of any other budget legislation.

WHEREAS an increase in the capital gains inclusion rate from one half of the capital gain to two thirds of the capital gain is effective for gains realized on or after June 25, 2024 and applies to the realized capital gain annual threshold of gains over $250,000.

WHEREAS the changes to the capital gains inclusion rate raises a concern that it could lead to a reduction in productivity, investing and innovation in the agricultural sector. This change will disincentivize investors and entrepreneurship in this province and the impact will be felt across Canada.

BE IT RESOLVED that SARM lobby the federal government to reconsider and rescind the changes to the capital gains inclusion rate that came into effect on June 25, 2024.

BE IT FURTHER RESOLVED that SARM lobby the federal government to engage in a thorough review of the long-term economic impacts of the proposed changes and consider alternative options that could help achieve their intended tax revenue goals without adversely affecting the Canadian economy and the agriculture industry.