The Alternative Minimum Tax Goes Mainstream
The 2023 Budget proposes material changes to the alternative minimum tax AMT regime which, as discussed below, could result in significant increases to taxes on capital gains i.e.,5-6 percentage points. Although practitioners have been half-expecting a capital gains inclusion rate increase since 2016 which has not come to be, this is the practical effect of the AMT amendments for larger capital gains.
Source: bennettjones.com