Capital Gains

[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?

[Templeboy]

Its the same as gun control, (I'm not a gun guy) it is so easy to pick the low hanging fruit.

Pretty easy to take guns away from law abiding citizens, harder to take them from gang bangers and criminal elements when they have far more need and intent to use.

CG's will be taken away by this liberal government on everything but a dwelling just wait and see. They are going to make the 90%ers pay their fair share (event though they pay almost all the tax now.)
There is going to be a push to cripple AB and SK, a lot easier to chase someone down who is already injured and on crutches and make them an example. Libs started all out class warfare last election, every one but the inner circle will be caught in their Taxing web.

[SASKFARMER]

Chuck your so smart as you worship the sun and hope for the days of the CWB to come back.

Basically, who cares if I get my 35 years down south like my father and father-in-law. I give it away really don't care.

[ajl]

We need to keep in mind that the primary source of these capital gains is manufactured inflation that stole them from people's savings in the first place. Now that we are in a deflationary macro cycle, government can't steal at the front end so will have to steal at the back end. If interest rate setting was done by the market instead of the central bank, then these capital gains would not have existed in the first place.

[chuckChuck]

That doesn't seem to be your attitude in Canada!

Its okay for the US to tax but not okay for revenue canada to tax wealth?

All this bitchin about canada but the US has an aggressive tax system as well! And they are going after non residents in canada as well.

[SASKFARMER]

Oh chucks in your ndp world all wealth is bad. Listen for one minute. If I live down south for 35 years in my home I don’t care if they get it. But also in the state of Florida all investment is non taxable if your American. Any Canadian shithole have that. Trudeau will need money and need it soon

[mbratrud]

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.

The question is who ultimately will pay the tax? Of course the person selling the Farm, but what will happen to prices? Will an additional tax on a greater portion of capital gains postpone retirements and farm sales at least over the next few years in hopes of electing a new govt? creating more demand for land in the short term. For argument sake lets say it means a tax rate on 37.5% on CG vs something closer to 25% currently (loosely using 50% tax on 50% CG vs 50% tax on 75% CG) If i have a capital gain of $1500 per acre that's an extra $187.50/acre or $30000 in quarter in taxes. Will landowners hold out for more in the short term? On the flip side If sellers decide to hold out until a new govt is elected could that flood the market in a couple years. No matter your view nothing good comes out of the government tinkering with the tax system. I doubt they do it in this minority situation to be honest.

[bucket]

NDP want to tax the wealthy ....this is the tradeoff on climate issues. ...NDP will vote with liberals on capital gains changes...

[seldomseen]

Oh chucks in your ndp world all wealth is bad. Listen for one minute. If I live down south for 35 years in my home I don’t care if they get it. But also in the state of Florida all investment is non taxable if your American. Any Canadian shithole have that. Trudeau will need money and need it soon

In the NDP World all wealth is bad except their own wealth!