Further, capital gains deductions before June 25 remain at 50% but selling after June 25 is taxed at 66%

There is more to it though, the rate from 100,000 to 250,000 remains at 50% even after June 25 and only amounts over 250,000 will have an effective rate of 66% after June 25

So, a big short term gift to tax preparation and tax planning industries.

Most people won’t worry about this, as selling your principal home in Canada is capital gains exempt… as long as you don’t try and game that system by doing multiple transactions in less than 1 year, or the CRA deems you to be “in the business of”.

The bigger problem with this budget is the 40 billion dollar deficit (which is surely larger but employs many tricks to get it to the “modest” 40 billion). Some quick stats

Canada will pay more in interest payments alone than it spends on health care

Canada will pay more in interest payments alone than it collects from the GST (Canadian VAT tax / sales tax on everything).