VANCOUVER—Despite common misperceptions, capital gains taxes are not just paid by wealthy Canadians, and Canada already has a relatively high capital gains tax rate compared to other developed countries, finds a new study released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. “Despite what many Canadians believe, most capital gains taxes are paid by ordinary Canadians and not the super wealthy, and raising this tax, would weaken Canada’s economic recovery,” said Alex Whalen, a policy analyst for the Fraser Institute and co-author of Correcting Common Misunderstandings about Capital Gains Taxes. The study clarifies common misunderstandings about capital gains taxes, namely that only wealthy people pay them, and that Canada has a low capital gains tax rate compared to other developed countries.

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