How capital gains are paid on properties upon death
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- Опубликовано: 1 июл 2024
- Erin Bury, CEO of Willful, joins BNN Bloomberg to discuss protecting assets from capital gains tax upon death.
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You won't feel so bad, if you realize everything in Canada belongs to Trudeau and Freeland. You are lucky to be alive in this incredible country.
Honestly this is how MOST people get screwed in estates when people pass. We try to get all our ducks in a row to make sure your family gets the most money with the absolute less stress is the big issue no one wants to leave their families with a mess. However what we always see is people forget to pay the taxes on there estates so when they do pass the estate is less then what the family thought due to taxation.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I located her, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.
No tax implication between spouses in Ontario
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This is basic stuff, hire a good lawyer and sort your assets out.
As a liberal. I also support taxing the rich at a 99% tax rate and make universal basic income 100,000 annually.
I love Trudeau's higher capital gains tax. Higher taxes=more government services.
April Fools Day was in April.
@@GMAG416 We should defund the police in order to save money.
We should extend the capital gains tax increase to primary residence. As a low-income Canadian, I regard Canadians who can afford a home as highly privileged. Your profits from realized gains in the sale of your primary home should be redistributed to people like me, who will never be able to afford home ownership.
@@timothywatt I totally agree. People who can afford to pay more should.
Just so we are clear on this. The more government you have in your life, the poorer and worse off you will be. We need LESS government intrusion in our lives, not MORE. Government = inefficient. Private = more efficient. Fixed it for you.