John McKenzie, CEO of TMX Group, pictured during the Piper Sandler Global Exchange and FinTech Conference in New York City in June 2023. He calls the timing of the capital gains tax changes this year particularly concerning.BRENDAN MCDERMID/Reuters
Canada’s largest stock exchange operator is urging the federal government to mitigate the risk of a higher capital gains tax inclusion rate before the increase takes effect next month.
John McKenzie, chief executive of the TMX Group Ltd. – which owns the Toronto Stock Exchange and the TSX Venture Exchange – said Friday the change essentially amounts to a 33-per-cent tax increase on investing activity. Speaking on a conference call to discuss the company’s first-quarter results, Mr. McKenzie said “this increase will add another disincentive to investing in Canada.”
Because the Liberal government separated the capital gains tax measure that was unveiled…
