A recent survey by the Council of Canadian Innovators reveals 90% of Canadian tech companies believe the federal government’s new capital gains policy will harm the industry. Conducted with 143 tech leaders, the survey indicates 60% predict a “very negative” impact on investment.
The policy, which increases taxable capital from one-half to two-thirds for individuals with gains above $250,000, has faced opposition since it was revealed April, with over 2,000 tech workers signing an open letter to Prime Minister Trudeau and Finance Minister Freeland. The survey also highlights concerns about talent retention, with 86% fearing the changes will make it harder to attract and keep skilled workers.
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