RE:New shareholderWelcome. And further to your comments, the 2024 Canadian Federal budget unveiled Tuesday, had the federal government increasing the inclusion rate of the capital gains tax from 50 per cent to 67 per cent for businesses and trusts.
The proposed change, if adopted, would come into effect on June 25, 2024 and would be a date that any Canadian company looking to acquired would want to have the announcement to have happen before that date.
Should an acquisition announcement be made before June 25, 2024, a 50% capital gain tax would be grandfathered-in ... even though the final closure date may be one that would sometime after the June 25, 2024.
Otherwise, ONCY and its Canadian shareholders would become subject to a 67% capital gains tax on the acquisition of ONCY.