Capital Gains Tax Increase
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- Опубликовано: 7 сен 2024
- The socialist Liberal Government announce effective June 25 that the Capital Gains Tax was going to be increased from the current 50% to 66.7% on any gain over $250,000. What will be the implications of this higher tax ?
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“She’s dumb” 😂 I think she is also very condescending when she speaks
Agree..like she's speaking to children.
Spending and government bloat is out of control, total OAS expense is estimated to grow over 30% in the coming decade and over-hiring in all departments is rampant.
Agree The Private sector has grown something like over 30% under Justin. These public servants are his voters , so it's in the Liberals and NDP's best interest to keep pumping out more of these jobs.
I hope you are right, governments of all stripes often fail to roll back taxes once they are in place.
Next election this will be reversed when the Conservatives come to power. This country is trying to tax its way out of its problems, rather then cut back on a bloated government they feel taxing is the only way to go. Canada is definitely going down a dangerous path in which they think taxes will solve all problems. If I were to have introduced an increase I would have just made it on passive income. I feel it should be taxed higher than working as it’s passive. Yes it’s after tax dollars and risked capital, but it’s become used in Vancouver especially to buy unproductive assets such as real estate. I don’t mind stocks and businesses having lower taxes as businesses add to the economy and provide value. I don’t see how someone investing in RE parking their money to earn passive income should get the same break. I’ve owned multiple properties as well, it’s got to the point that government has to tax everything. I rather take the less of 2 evils and have them tax passive more, unfortunately they took a blanket case.
Appreciated you pointing out that capital gains taxes should be given favorable treatment because you are using risk capital. Government should encourage more risk taking to promote economic growth. Problem with retirement accounts is risk is again punished as you can't deduct losses against gains. Then taxed at ordinary income rates when withdrawn when taxes may be higher. Note, 60% is technically the inclusion rate, not the tax rate, which is same as earned income tax rate.
Im a proponent of a “Bigland tax” 67% transferred immediately into the Jay Coupar Liquidity Fund.😂
I will have a word with Mr. Trudeau about it.
Great content as always, thanks.
Thanks for posting about this; I wish the mainstream media would address it as well. I'm definitely not rich and I recently flipped an investment property and the taxes are rough. The current options for investors aren't ideal; either eat the flipping tax now or get wrecked with capital gain later as the property appreciates over time
Great video thanks!! Fully agree with your sentiment
Spot on Owen. VGG and XHU ETFs to play likely decline in CAD and US lowering Corp taxes post their election. Perhaps few exceptions with oil&gas equities in Canada is all there is left.
The scary thing is, Canada traditionally votes Liberal, so even if the Conservatives win the next election, their reign will likely be short lived.
The original libertarian ideals were to destroy the current system and build a new more efficient one. Sadly the “liberal” party is not the same.
That’s because immigrants will always vote liberal. Always
As cliche as it sounds, this time it might be different; I've never seen such negative sentiment toward the Liberal Gov across the board before. Almost everyone who I know who's left-leaning and voted Liberal last election want to vote Conservative this time around
Agree... the Liberal's used to be a left of center party. Now they are so far left they're in bed with the NDP. After 9 years of socialism the damage is now starting to pile up. I think Canadian are finally waking up to this and the liberal will be kicked to the curb next year. I hope British Columbians are also waking up to the damage Eby and the NDP are doing here.
We should all be doing so much better here in BC and Canada with our resources, educated workforce, clean air and water. It's sad how bad this country and province are being managed. Hopefully we can get back on track soon. we should be one of the strongest , wealthiest and prosperous nations on the planet.
@OwenBigland Well said Owen, I couldn't agree more, but our way of thinking might be the minority.
I guess we'll find out next fall after the federal election.
better to borrow against the equity at 6-8% than pay 60 percent capital gains tax.
Thanks as always Owen. Remind me again which index you are investing in from the US?
VOO SCHD QQQ VIG VUG are my main US funds XIC XEI for Canada
More taxes for humans in Canada. 🇨🇦
Do you keep any small amount of gold in your portfolio?
No. I have never owned gold or any bonds, GIC's or term deposits. I'm 100% in Equities 85% US 10% CDN 5% Europe & emerging markets. I have been slowly shrinking my individual holdings now up to 70% held in low cost ETF's via Vanguard and I-shares and 30% held in individual names.
She sounds like Kamala Harris.. goes around in circles
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Natalie Strayer.
Wow, thank you
Make the rich pay!! Lol 😆
Yep, malcontent duds luv to point fingers/malign successful people. Envy.
Tax and spend liberals