Capital Gains

[jazz]

Recent post from Garth Turner on CG under this new govt. Speculation has started on this being a big target.

https://www.greaterfool.ca/2019/10/27/the-big-bite/ The big bite

My answer to Nate: an unqualified maybe. T2’s been coy so far about how far into the sheets he’ll crawl with the Dippers. Obviously the Libs need money. The projected deficit numbers are horrendous, and if a recession materializes we’re pooched. Meanwhile Trudeau has shown – with his special tax bracket for high income-earners, his attack on stock options and his assault on business owners and professionals – that he’s no friend of the investor class.
Selling now and paying on 50% to avoid selling later at 75% is a strategy. It’s called ‘insurance.’
And yes, the tax change would be effective the night it was introduced. In 20 weeks.

[FarmJunkie]

How else is he gonna pay for all the losers of society. Just makes my blood boil that he can make these decisions and there is no effect to him or the tard sacks that surround him. I don’t mind helping people or paying my share but why shud my pension or retirement plan be shit on when I already subsidized society with cheap grain. That dummy wouldn’t have a clue what I’m talking about tho except for Butt sniffer who pulls the strings.

[grassfarmer]

...... Speculation ........

That's the key word.

[fjlip]

More fake news/lies....because slams a Lieberal idea

[jazz]

That's the key word.

Insurance against govt incompetence. If it passed it would be effective the night of the budget.

Look at it logically, all other taxes can be dodged. Income tax can be reduce, GST PST avoided by not buying anything, carbon tax by not driving. But peoples homes and businesses are their largest assets and are eventually cashed out.

[Taiga]

Yes it is speculation but there are enough people talking about it that there is a good chance it will be coming down the pipe.

https://www.investmentexecutive.com/inside-track_/jamie-golombek/potential-tax-changes-in-light-of-a-liberal-minority/

[jazz]

Farmers have a big target on them. Most people have CG exemption on their house and thats it. They are taxed on 50% of all other CG. But farmers have $2M for a husband and spouse and another $1M for children that is totally tax exempt. Throw a 50% inclusion rate on that and its a big chunk to the govt.

[farmaholic]

If a gain is never "crystalized" by a "sale".....how can it be taxed?

Then it is just an "assumption tax".

What if real property never gets sold but transferred from generation to generation.

What a desperation tactic.

Way too many net withdrawers than contributors in today's society. Huge amounts of abuse and system fraud.

Everyone probably knows several people who are on the take of the social "welfare" system. And I'm not talking only of the true program of welfare, for the downs and out destitute. I'm talking of every program that enables people who are able to contribute but choose not to. Because they are happy getting something for nothing rather than earning and keeping their way with a higher standard of living with a job.

And people get mad at "working" immigrants. I wonder what the working immigrant thinks of the lazy patriot. But also, how many immigrants choose Canada for its social welfare system?

Don't let someone else's wealth detract from you aspiring to create and acquire your own!

Wealth taxes......

[jazz]

If you want to really go down the rabbit hole, much of capital gains is due to inflation which the govt creates in the name of growth then taxes it. Its pretty sick if you think about it.

[macdon02]

That's the key word.

Technically if you plan on putting in a crop next year or are just going through the process of farming, you are in a default long position, if you are not selling the minute the seed is planted you are "speculating" the price will go up. Yes it's impossible to know exactly what volume will be produced but you are wagering on a price increase on what you will produce. We speculate in everything by default, it's not wrong but i would be very careful being critical of the term. Unsold grain in the bin or holding over and breeding heifers is speculating. Heck, not pre buying your fertilizer is betting against the odds the seasonal will kick in and price will go up. It's everywhere and impossible to be neutral all the time. We only exit the long position when we sell. There's too many aspects in ag to even go there. If you gain a buck bushel binning grain 6 months is govt entitled to a portion even though you carry the risk of spoilage? Or death loss in livestock? Speculation is everywhere, we just don't recognize it for what it is.

[grassfarmer]

Technically if you plan on putting in a crop next year or are just going through the process of farming, you are in a default long position, if you are not selling the minute the seed is planted you are "speculating" the price will go up. Yes it's impossible to know exactly what volume will be produced but you are wagering on a price increase on what you will produce. We speculate in everything by default, it's not wrong but i would be very careful being critical of the term. Unsold grain in the bin or holding over and breeding heifers is speculating. Heck, not pre buying your fertilizer is betting against the odds the seasonal will kick in and price will go up. It's everywhere and impossible to be neutral all the time. We only exit the long position when we sell. There's too many aspects in ag to even go there. If you gain a buck bushel binning grain 6 months is govt entitled to a portion even though you carry the risk of spoilage? Or death loss in livestock? Speculation is everywhere, we just don't recognize it for what it is.

Wrong definition of speculation in this context. It's this one "Speculation - the forming of a theory or conjecture without firm evidence"

[macdon02]

Wrong definition of speculation in this context. It's this one "Speculation - the forming of a theory or conjecture without firm evidence"

Im not selling "cuz it's got to go up" lol

[chuckChuck]

Neither party seems to have the guts to rein in offshore tax avoidance or outright fraud. Its easier to go after the little targets who can't get away.

[SASKFARMER]

Next three big targets to get cash to fund skippy and the SS minnow.

1. Capital Gains.
2. Death Tax.
3. Your Home.

Stupid people will wake up once it's too late.

Sad really.

[chuckChuck]

How will Trump and the USA tax your second home in Florida once you sell or leave it to the next generation? Don't they have a large estate tax?