Breaking: Federal Budget announces increase to discourage investment The inclusion rate on all capital gains above $250,000 by individuals, corporations & trusts - you pay tax on when you sell will move from 1/2 the amount to 2/3rds. No allowance for the time the investment's held – or the inflation rate eroding purchasing power during that time. For example, a $10,000 investment in 1990 sold for $20,600 today - your gain in terms of purchasing power is zero. (due to inflation)
@moneytalkstweet mike - thoughts on this? seems to be part of the plan to “unlock” more doors, force millennials to sell their parents real estate instead of inheriting it
@moneytalkstweet mike - thoughts on this? seems to be part of the plan to “unlock” more doors, force millennials to sell their parents real estate instead of inheriting it
@moneytalkstweet @DustyRoseYYC As usual, this will make housing worse, as small holding landlords won’t sell as they will be taxed on 2/3 of the capital gain. They weren’t selling when it was 50%, and small towns can’t force landlords to sell when they sorely need to be redeveloped.
@moneytalkstweet So basically, you can also get taxed on capital losses.
@moneytalkstweet Cdns have worked hard to build a nest egg & now if inherited property is sold in year inherited any amount over 250,000 btn date of value when a person becomes deceased vs value at time of sale of property to be gouged by this Govt. @JustinTrudeau #LiberalsMustGo
@moneytalkstweet What I find odd they increased the LTCGE by 25%, but increased general cap gains to 66% of gains. It’s like they want small/medium business to sell out, it seems contradictory, or not… 🤷♂️
@moneytalkstweet It's on ALL gains on corporations and trusts, ie dollar one.
@moneytalkstweet Is it because they no longer want any private investment in real estate, both land and homes, buildings? That is certainly the perception. Only government council housing? Well, okay comrades!
@moneytalkstweet I presume this concept is to stop people from flipping real-estate property? THAT part I understand but it is sure unfair if I've owned lake property for years and I don't rent it out, so, now if I sell it. The govt takes 66.6% of my "profit" less realtor fees etc. It'll cost
@moneytalkstweet Depreciation recapture then could be a really bad strategy for long term holders.