Whether you prefer higher taxes or lower, changing the capital gains inclusion rate made good sense. A missed opportunity to lower other taxes to compensate, however. I explain in my latest for @TheHubCanada: thehub.ca/2024-04-17/tre… #cdnecon #cdnpoli
@TheHubCanada TL;DR: The change aligns the tax treatment of various sources of income. Good tax systems are neutral. This change does that. Want lower taxes? That's fair enough. Could lower the statutory rates and keep the uniformity.
@trevortombe @TheHubCanada the most non-sensical "Canadian" perspective from someone who should know better
@trevortombe @TheHubCanada This is bad for Canada, and for many Canadian families. I'm surprised you wrote this.
@trevortombe @acoyne @TheHubCanada "A missed opportunity to lower other taxes to compensate, however" But wouldn't .@PierrePoilievre be rubbing their noses in it as his idea? He's already calling the >$250K capital gains folks 'working Canadians' hoping his base will buy their taxes are up x.com/pierrepoilievr…
@trevortombe @acoyne @TheHubCanada "A missed opportunity to lower other taxes to compensate, however" But wouldn't .@PierrePoilievre be rubbing their noses in it as his idea? He's already calling the >$250K capital gains folks 'working Canadians' hoping his base will buy their taxes are up x.com/pierrepoilievr…
@trevortombe @acoyne @TheHubCanada Doesn't make good sense. The economy is shakey. This discourages investment and growth. Also tax hike will be passed down to the consumer in higher pricing
@trevortombe @TheHubCanada No issue with higher incl rate for cap stock gains or selling of 2nd home. Big issue is with higher incl rate (w/o 250K$ excl) for firms. For example, private equity funds investing in Canadian SMEs will face lower returns for any investment. That is not good.
@trevortombe @TheHubCanada Thanks for Lib’splaining it Trevor… this is not good tax policy, period.
@trevortombe @TheHubCanada Thanks for Lib’splaining it Trevor… this is not good tax policy, period.
@trevortombe @TheHubCanada The GOC will collect 1/2 of what they claim.
@trevortombe @acoyne @TheHubCanada During this housing crisis, it deters landlords from selling their rental properties… not well thought out at all.
@trevortombe @TheHubCanada It is argued that lower cap gains inclusion is incentive for taking on risk. What measures would you put in the tax code to reward this if increasing the inclusion?