The budget announced the changes only, and they are not in the budget implementation bill. [...] The next two months will feature a scramble by the government to release the rules before June 25 and a scramble by taxpayers who do not know what the rules will be. [...] What are the odds of an administrative and legislative mess? The tens of thousands of Canadian tax filers caught in the recent “bare trust” debacle might say those odds are high. [...] The June implementation of a higher inclusion rate that is retroactive – affecting past gains, not just those that accrue in the future – matters more to its revenue plans than the permanent changes. [...] That jump is key to the government’s commitments to keep the deficit below $40-billion and lower the ratio of its debt to GDP this year.
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