The legislation to change the inclusion rate had not received royal assent when Parliament was prorogued by Justin Trudeau and therefore died on the order paper. Carney said his government plans to introduce legislation affecting the increase in the Lifetime Capital Gains Exemption limit if it wins the election.

The start of the Government of Canada's planned federal capital gains tax hike will no longer be deferred, as it will now be cancelled.

The proposal, which was set to take effect in June last year, would have seen all businesses and individuals reporting more than $250,000 in capital gains in a year pay more tax on those proceeds