The Conservative Party platform, released today, promises to scrap the capital gains tax for individual investors who reinvest the proceeds.

The party platform proposes to eliminate the capital gains tax for individuals on the sale of assets, providing that the proceeds are reinvested within six months.

“Canadians who invest or inherit cottages or family heirlooms, should be able to sell those assets and plough the profits back into the economy without taking a tax hit,” the platform suggests.

“It is time government rewarded Canadians who reinvest their money and create jobs,” it adds.

The promise comes amid other tax cut promises from the Conservatives, including a proposed drop in the GST to 5%, and a pledge to follow through on the proposed dividend tax cut and planned corporate tax cuts. It had already promised to exempt the first $500,000 of fishing property from capital gains tax as long as it is transferred within a family.