Capital gains on equipment and land corp vs personal in budget 24.

[bucket]

Worst part is this tax increase won't cover what sock boy overspends every week. It would be like borrowing money to pay for new X9 to take off 500 acres. Lots of boomer land to change hands in the next 20 years and the gov wants a big piece.

Exactly, no other industry they can tap on. Because every other industry can move out of Canada to avoid this nonsense.

Farm families looking to get out to enjoy the effort they put in, are going to get taxed. Instead of giving a Capital gains exemption up to 5 million for the average farm, and letting retiring people spend or help the next generation, Freeland and Trudeau think they know better how to spend real hard earned money. Something neither of them understand.

Farm groups fell asleep on this issue, must have been the whiskey tasting events.

[bucket]

They say only 40000 Canadians are affected by this new Capital gains tax. The math says that each of those 40000 will pay $477,000 on average. 19 billion / 40000.

Even John Manley said this morning that they collected more at the 50% rate than they did at the higher level. That is one of the reasons he said the Liberals lowered it when he was still in politics.

This is a direct assault on farm families.

The dumbphuckled farmer.

[LEP]

They say only 40000 Canadians are affected by this new Capital gains tax. The math says that each of those 40000 will pay $477,000 on average. 19 billion / 40000.

Even John Manley said this morning that they collected more at the 50% rate than they did at the higher level. That is one of the reasons he said the Liberals lowered it when he was still in politics.

This is a direct assault on farm families.

The dumbphuckled farmer.

I think it is 40,000 per year so over 5 years 200,000.

[Taiga]

This is going to blow up on the Liberals, this affects a lot more people than advertised including the owner of your local subway franchise and your local Quickie Mart, etc

[furrowtickler]

This is going to blow up on the Liberals, this affects a lot more people than advertised including the owner of your local subway franchise and your local Quickie Mart, etc

Yup
The Liberal/ NDP coalition just went too far even their own base voters
it was all good as long as it cost someone else that pays …..

[jazz]

Fast facts; there are 4m canadians that own a 2nd property, there are 300,000 corporations in the country, including 100,000 doctors in that group. 1 in 3 Canadians have investments in the TSX with many of those in corporate unregistered accounts.

The only way younger people are getting a leg up in this country is from inheritances and gifts from the older generations, and Trudeau cut that off at the knees.

$19B is spent by the Liberals inside of a week. This is just a class warfare gambit for votes, nothing more.

[westernvicki]

Just in case you missed this graph in the thread I posted earlier.

Question: Who has the policy arm to analyze the impact of this on the industry and current debt ratios, investors and land values: FCC, Banks, or ag associations?

[shtferbrains]

There we are in with the Scandinavian socialist countries that compete in the centrally controlled, highly tariff protected EU.

We compete against Mexico to sell to our best customer, the USA.

IMHO when the current Liberal government won in 2015 they looked at northern Europe as the socialist ideal.

Now we have blown right past them as this group of Liberals is totally incompetent.

Everything they do thinking they are helping the middle class turns to shit and causes more inflation, higher interest rates, and poorer future for our kids.

[jazz]

The post budget polling is out and its pretty ugly. Libs falling to 23%, CPC rising to 43%.

In the Angus Reid poll it shows Trudeau and company down to 33 seats with both him and Freeland losing their seats. Block takes opposition. Wow, things are changing fast.

Turns out all those kids he wants to peddle his budget to have parents and grandparents with significant a CG hit if it goes through. Imagine your inheritance taxed through 2 generations before you. Kids are smarter than I gave them credit for.

[blackpowder]

I can remember the house with barely 3 or 4? Lib seats. He's gone finally. But thanks to our system, he will have had from 2015 through 2025. Let that sink in.