Oncolytics Biotech Inc T.ONC

RE:RE:RE:Canada's 2024 Federal Budget increases capital gains tax

[Noteable]

The Canadian government said it would increase the inclusion rate of the capital gains tax from one-half to two thirds on capital gains above $250,000 per year for individuals, and on all capital gains realized by corporations and trusts.

• The inclusion rate for capital gains realized annually up to $250,000 by individuals will continue to be one-half.
• The lifetime capital gains exemption currently allows Canadians to exempt up to $1,016,836 in capital gains tax-free on the sale of small business shares. This tax-free limit will be increased to $1.25 million, effective June 25, 2024, and will continue to be indexed to inflation thereafter. In 2025, Canadians with eligible capital gains of below $2.25 million are reported to be better off under these changes, however those with company share or options to buy shares with these new capital gains increases will be subject to an 12.5% increase in overall taxes paid, should they not dispose of those assets by June 25, 2024.