Your questions answered about the proposed capital gains tax changes

The federal government's 2024 budget includes significant new spending on projects and programs — and it's relying on revenue from a change to the capital gains inclusion rate to help pay for it.

11 hours agoSome business groups are worried that new capital gains tax changes could hurt economic growth.

But according to Small Business Minister Rechie Valdez, most Canadians won't be impacted by that change — and it's a move to create fairness.

It also retains an existing lifetime capital gains tax exemption on the sale of small business shares, and farming and fishing property.

CBC News breaks down the biggest items in the new federal budget — and how the government is planning to pay for billions in new spending.

Sahir Khan, executive vice president of the University of Ottawa Institute of Fiscal Studies and Democracy, said this scenario is "not uncommon in the generational transfer of wealth."