Canadian business groups urge government to scrap capital gains tax hike

TORONTO (May 9): Some of Canada’s biggest business lobby groups on Thursday asked Prime Minister Justin Trudeau’s Liberal government to scrap a planned tax hike on capital gains, a move they said would stifle growth and investment climate in the country.

The federal government disclosed last month its plan to increase the share of capital gains subject to taxation to 66.7%, up from the…