After months of uncertainty regarding the proposed changes in taxation of capital gains, the Department of Finance announced on January 31, 2025 that the increase in the inclusion rate of capital gains from 1/2 to 2/3 will be deferred from June 25, 2024 to January 1, 2026, which means you only need to include 1/2 of all capital gains realized in your taxable income for 2024 and 2025 tax years.
In addition, the capital gain exemption limit will be increased to $1,250,000 from June 25, 2024 and the new Canadian Entrepreneurs’ Incentive, which will reduce the inclusion rate to 1/3 on a life time maximum of up to $2 million, will also proceed from 2025 onward as announced.
Neither of these measures are law yet and a new bill would have to be introduced given the Parliament prorogation. But at least we have some clarity regarding the capital gains reporting for 2024 as the filing deadline is fast approaching.
The official announcement can be found here: https://www.canada.ca/en/department-finance/news/2025/01/government-of-canada-announces-deferral-in-implementation-of-change-to-capital-gains-inclusion-rate.html?mc_cid=4ad81967f2&mc_eid=e8dce28c01