Canadian PM proposes capital gains tax on stocks and cryptocurrencies

Canadian Prime Minister Justin Trudeau has proposed a new capital gains tax that ranges from 50% to 67%. According to the Canadian Revenue Agency website, common capital properties include villas, securities (such as stocks, bonds, cryptocurrencies, and mutual fund trust units), land, and buildings. Canadian taxpayers do not need to pay taxes when buying or holding cryptocurrencies. However, capital gains or business income from cryptocurrency sales, mining activities, or other cryptocurrency-related transactions are subject to taxation. Individual cryptocurrency holders need to pay taxes on 50% of their total capital gains, while professional (day) traders need to pay taxes on 100% of their profits.