Capital gains

[bucket]

Just wondering where the incentive is to work hard and build something when a person like Freeland wants to tax the crap out of it at the end.

While they have made this about doctors, and what doctor would come and set up in Canada now.

It is really a direct attack on farmers, because there is no mobility in farmland.

[AlbertaFarmer5]

I'll play devil's advocate.
Would you rather be taxed at the end of a successful career or business, or at the beginning preventing any opportunity to ever build a business or career?

[fcr]

The exemption on small business shares and farm property increase s to 1.25 mil as I understand it. So a farm couple can have 2.5 mil in gains without tax .

[bucket]

The exemption on small business shares and farm property increase s to 1.25 mil as I understand it. So a farm couple can have 2.5 mil in gains without tax .

It's the inclusion rate that moved up to 66%. The math means you will pay more tax. John Manley, former liberal finance minister made the comment a while back that they reduced the rate from the conservative government from 75% to 50% and had better success.

Its like no one listens to the old stock liberals that use to produce balanced budgets.

[jazz]

The exemption on small business shares and farm property increase s to 1.25 mil as I understand it. So a farm couple can have 2.5 mil in gains without tax .

We did that calculation, it still doesnt make up for the higher inclusion rate on the rest.

[BTO780]

The exemption on small business shares and farm property increase s to 1.25 mil as I understand it. So a farm couple can have 2.5 mil in gains without tax .

Big deal 2.5!
With the price of land it should be double that at least.
Four quarters at 600k takes care of that. The rest of your farm you will pay the Turd dearly for doing F all.

Sad times boys, sad times!!

[furrowtickler]

Now that her parents have cashed out and gone from farm, its time to absolutely screw everyone else left .
she said she was going to do it a long time ago
it got ignored

[Sodbuster]

This is a direct attack on all businesses and corporations, why would a company want to setup in Canada when there is a lot of other countries with a better environment for business. What will keep existing companies here knowing that this government wants to tax the crap out of them. Liberals are basically saying we don’t care if we have jobs, we’ll tax anyone that has money and the rest of the people will go into social programs. I know it’s a bit of exaggeration but this tax hits is going to cost a lot of jobs in the future and export our brightest and smartest people to other countries.

[AlbertaFarmer5]

Keep in mind that farming is unique amongst most businesses in that the assets appreciate while the profits along the way may be marginal at best. Whereas nearly any other viable business only owns depreciating assets, leases their facility, and hopes to make profit along the way. With very little to show for it at the end when the property lease is over and the depreciated assets are sold for pennies on the dollar.

Another way to look at it, have we really done anything to have earned the appreciation of our properties? Or have we just been along for the ride as successive governments mismanage economic policy creating inflation? Big brother giveth, Big brother taketh away?
Not very many businesses have to worry about capital gains.

[13stripe]

The high level of taxation in this country is problematic and it is getting worst. The value Canadians get for this tax burden is decreasing. This latest tax increase was primarily done as a political trap for conservatives, voting for they are for more taxes, voting against they are just for the rich. Little is done for what is best for the country and the citizens. All parties at all levels of government should be working with that goal in mind.

[jazz]

The woke doctors and lawyer and accountants and real estate agents jumped for joy when the carbon tax was being put on. Whole heartedly supported it. Now that they have some pain coming squealing like pigs.

Thats always the case in commie canada. Vote to hurt another group of people until it comes to your door step then cry. CG is going to be the same thing. 4m people own 2nd homes. Landlords, cottages, anyone who invested inside a corporation for their own retirement.

[blueversi]

Keep in mind that farming is unique amongst most businesses in that the assets appreciate while the profits along the way may be marginal at best. Whereas nearly any other viable business only owns depreciating assets, leases their facility, and hopes to make profit along the way. With very little to show for it at the end when the property lease is over and the depreciated assets are sold for pennies on the dollar.

Another way to look at it, have we really done anything to have earned the appreciation of our properties? Or have we just been along for the ride as successive governments mismanage economic policy creating inflation? Big brother giveth, Big brother take it away?
Not very many businesses have to worry about capital gains.

The money printing for the Scamdemic made all this possible. All part of the plan.

[shtferbrains]

Can't tax the people too much. More to come for sure.

Freeland's buddies at the IMF are coming to her support.

Headline from Bloomberg;

Capital gains tax hike a start but Canada needs more revenue, IMF says

[ajl]

Almost all capital gains in canuckistan are the result of inflation not hard work or innovation, which is caused by government being irresponsible. As such in nations like canuckistan, real estate speculation is the only business in town. Farmers are big real estate speculators and us such benefit from the inflation caused by irresponsible government. Since inflation is the only product in canuckistan, therefore it is the only thing that can be taxed. My solution to the problem is to get rid of the central bank, then interest rates would be set in the free market. In that scenario there would not be much capital gains to squabble about.

[FarmJunkie]

She and her boss think they are Robin Hood. Even tho they didn’t create all this mess they created the biggest part. This is what happens when u can’t do math and realize the budget can’t balance itself. So now they try to cover their ass by stealing from the people who create wealth and it sure as hell ain’t the government.