Policy Library

The RPC will entirely remove the capital gains exemption (i.e., increase the inclusion rate to 100%) - to finally put an end to the unfair two-tier tax system that favours the ultrawealthy - and instead tax all capital gains at the same nominal income tax rate. Fewer than 1 in 5 Canadians[1] benefit from this highly-inequitable policy, which is unique to Canada - even the USA does not have this exemption. To offset negative any impact this change might have had on Canadians (e.g., when they sell a cottage, retirement investments, or their small business), we will increase the Lifetime Capital Gains Exemption (LCGE)[2] from the current limit of $1,016,836 to $2,000,000 and expand the scope to include all Canadians; today, it is limited only to qualified farm and fishing property or qualified small business corporation shares. This limit will be tied to the consumer price index (CPI) to ensure it keeps pace with inflation. By nearly doubling the LCGE we dramatically reduce the number of Canadians affected by the increased inclusion rate. The wealthiest 0.01% of Canadians (approximately 42,000)[3] have an average net worth of over $35 million and will be the only group which is materially impacted by this policy.

The RPC will legislate the irrevocable abolition of capital punishment.

The RPC will create and operate a ubiquitous national network of charging stations for electric vehicles and personal electronic devices.

The RPC will commit Canada to maintain a physical cash currency for at least the next 20 years and until we can ensure the privacy of citizens and security of vulnerable individuals and groups in a fully-digital currency society.

The RPC will legislate recognition of complex modern interpersonal relationships, such as civil domestic partnerships including more than two adults, for all tax-related and other governmental purposes.

The RPC will increase the revenue limit from $500,000[1] to $1,000,000 to qualify for the lower rate, tie the limit to the consumer price index (CPI), gradually increase the higher corporate tax rate to 30% over 30 years, and work rapidly to close loopholes in corporate tax law which allow large successful corporations to avoid paying their fair share.