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The Structural Impact of the Capital Gains Deduction on the Canadian Tax System

James R. Wilson
Canadian Public Policy / Analyse de Politiques
Vol. 21, Supplement: The Canadian Experience of the Lifetime Capital Gains Exemption (Oct., 1995), pp. S206-S224
DOI: 10.2307/3551870
Stable URL: http://www.jstor.org/stable/3551870
Page Count: 19
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The Structural Impact of the Capital Gains Deduction on the Canadian Tax System
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Abstract

Le déduction à vie pour gains de capitaux a été introduite en 1985 avec des objectifs bien définis et relativement simples. Toutefois, à ce moment-là, on ne s'attendait pas à ce que cela simplifie le sysème d'impôt sur le revenu. Au contraire, l'introduction de la déduction a été accompagnée de nombreuses règles complexes destinées à l'implanter de façon précise et à prévenir son utilisation abusive. Au fil des années, alors que la déduction est devenue plus limitée et plus ciblée, les règles se sont complexifiées de telle sorte que la déduction est devenue un des domaines de la loi sur l'impôt les plus compliqués et les plus difficiles pour une large gamme de contribuables. /// The lifetime capital gains exemption was introduced in 1985 with definite and relatively simple objectives. It was not, however, expected to simplify the income tax system. On the contrary, the introduction of the exemption was accompanied by many complex rules designed to implement it in a precise manner and to prevent its misuse. As the exemption gradually became more limited and targeted following its introduction, substantial complexities were added to the tax system, until the exemption developed into one of the most difficult and complicated areas of the tax law applicable to a broad range of individual taxpayers.

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