Impact of Capital gain tax on investors
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- Опубліковано 30 кві 2024
- Jack Mintz, president's Fellow at the School of Public Policy, at the University of Calgary, joins BNN Bloomberg to discuss the impact of capital gain tax on investors.
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What about the gold plated public servant pension and the teacher pension, they are all indexed while we all have to save for our own retirement.
If i was considering investing in a rental property, these changes will definitely dissuade me from doing so.
Working hard,sacrificing & building Wealth in Canada...you pay the ultimate price. TAXES GEARED UP TO YOU AS A PUNISHMENT FOR YOUR EFFORTS
BS. Most rich people got their money from growing up in already rich families (cue the line of people making up stories about how they grew up poor and became rich)
And it's not a punishment. Those with more should contribute more. They benefit the most from society. And taxes are how we pay for a society, but the rich only want society to benefit them.
You don’t earn CAPITAL gains. Nothing at all to do with hard work OR sacrifice; it’s EXACTLY the opposite. 🤦♂️
Maybe learn what you’re complaining about before complaining.
You. Are. The. Problem.
@@whatifschrodingersboxwasacofin It's pretty sick how badly they want us to feel bad for the rich when more and more Canadians end up on the streets starving everyday.
If Rich people hadn't demanded tax cuts for the last 40 years our society wouldn't be in this mess to begin with. We all suffer so much for their benefit and all they do is look down on us and demand more for themselves.
What about the middle class that have saved and saved for retirement ...for what. Open your eyes and accept this BS Government for what it is.@StephenLeGresley
Found the bot/bootlicker.
IMPORTANT NOTE that if you're a professional with a professional corp (such as a doctor, which we're in short supply of), then they do not have access to this 250k limit. This impacts all incorporated business owners who rely on their investment portfolios to carry them through retirement since they aren't suckling off the teet of the Government and actually have to supply valuable services to the economy.
*Apparently* doctors are robber barons in medical gowns and they need to pay their fair share since they have been gaming the system for far too long. Good luck collecting when they piss off to the States.
So if your rich its real simple. Next incremental dollar you invest you do not invest in Canada. That is the problem. The tax is great in the short term from a revenue perspective, but is harmful in the long term as investment dries up. Canada is not competitive, we are the worst place to invest in within North America. Third place in North America ….great job.
Gonna be a lot of capital flight ✈️
Perfect comment perfect image. Very sad indeed.
I know several (8) wealthy families that are planning to leave Canada. What happens when the majority tax payers are gone?
Canada would become one of the "Geez 7" countries.
Socialism is great until u run out of someone else's money..its happening
People will fill the market gaps they left behind as is how it is supposed to work under capitalism.
Canada will be doomed
@flatmoontheory except they take their wealth with them meaning less money in canada, less investment and ultimately less to canadians. Someone doesn't always take their place, they may be business owners which are becoming increasingly rare in canada.
I'm Canadian...please tax me.
And you don't need to be wealthy or rich per say to get over 43% marginal tax, just earn a little over $100k as an individual and you'll be taxed to death and punished for making as much as some dual income households... The growing bloated government and taxation is why I left Canada.
For anyone who's managing their own retirement this capital gains tax and expansion of its limits (50% to 66%) could have a huge impact on people's retirement plans.
It will further hasten the foreign investments leaving Canada.
The real rich and wealthy will just hold assets longer or liquidate to diversify asap to avoid the taxation, and most likely move the money out of Canada.
By all accounts I've read everyone seems to agree it will not generate the tax revenue the government is claiming (expecting?) and that in fact it will lower overall revenue, and that a decrease in Capital Gains tax can actually stimulate growth and investment thus generating MORE tax revenue vs raising taxes.
Good luck Canada.
Its sad that the average canadian does not realize how much this type of tax is going to hurt the canadian economy and it will hurt business growth here
Carbon taxes are appulling they should be forced to stop with this nonsense
what we should be talking about is our Election integrity. iam really worried ,trudeau is more than capable of rigging an election He knows that he dont stand chances through fair and free election
Purchased a property as an investment, like many people, as an enhancement to my retirement income/pensions. 66.62% pretty much kills that dream. Thanks for being a hard working middle class citizen eh? How about going after the billions in offshore accounts? This wasn't planned, just knee jerk reaction like everything else that's done in Ottawa.
Heaven forbid JT and his goons go after the concentrated wealth of his Laurentien Elite backers.
And this is going to help the housing crisis is it
WEF plan, has to be..What leader of a country would add all carbon tax, Capital gains and everything in between when the food banks are full and everyone is struggling.....Sending 100's of millions out when we Canadians need it the most, on top of that all the migrants that must be taken care of....Everyone but the tax paying citizens are getting help....He turned Canada into Cuba/ Haiti
"Game playing"????? Corporate veils and capital property is the game playing that victims of financial abuse and fraud are being destroyed by. Until such holdings are part of public information, so these structures are not destroying lives and a tool of avoiding child support....if you can afford a second residence.....let's start with the ensuring that it's not a tool of child support avoidance. (And yes Canadians are taxed too much. Imagine the impact of those who are both taxed and deprived.)
I want the middle class to pay more. As a Canadian, I enjoy it when companies and the government bend me over and push their big tax d in hard and rough. As a canadian, we enjoy being screwed.
time to move to a BRICS country
Being one of "those" that pay over 52.5% in taxes, i welcome this new tax. Corporate wealth (gains) should have never been redestributed to it's shareholders but rather to bond holders; with a termed repayment schedule and a set % of profit). As would a company borrowing funds from a financial institution.
Any economist on the planet will also agree that to increase our GDP, investment in equipment and workers is the only positive way to resolve this issue. Spending on shareholders (value of stocks and dividends) is non conducive to growth.
The government should come out with a bill preventing shareholding (unless you are multiple owners/founders).
The issue is the corporate wealth is poorly redistributed to those that ensure it's perpetual gain (aka the workers and it's installations).
You don't need a bachelor's degree in business to figure out how to mitigate our situation. The issue at play is those long term shareholders, that are crying wolf and those from the silent generation which needed to invest into their own personal pension plan, as none (governmental) was available at the moment.
Retroactively roll back government employee and politician pensions..... and see how they like that
Why should someone who makes more pay less of a tax rate on their pension by saving thru a corporation than the average person who saves thru an RRSP?
Because some people know financial planning. You can set up your own corporation. It’s called a ‘personal services corporation’. 😳
Why should someone who only eats orange crayons get a carrot?
PPL going to be sending their money offshore. NDP has to get this "normalized" for when they get into office and then say _"that's what everyone else was doing and that's why the scandal money left the country entirely"_
you voted Justin, you get your deserved.
Ottwa is USSR IN 1950
Huh?????
Bet it makes 100% zero impact on the total investment money in Canada....
Assessment? One word. ... Catastrophic.
I’ll bet nobody commenting here is aware of the tax benefit Canada provides by not taxing capital gains on your primary residence. You know, the thing more Canadians are likely to have than wildly appreciating assets. Omg.
The sky will fall. Sadly. ☹️
I will never vote for Liberals again... the question is what is rich ? The threshold should have been $750,000 to 1,000,000 for the inclusion rate to kick in
All of this would have happened under the Conservatives too. This is not a party problem. This is a gov't problem.
accountants are making a killing
Its going to kill your pension plans , teachers pension will be hit hard for example ... its not a tax on rich its a tax on prudent saving and investing ... time to help usa become great ..move your company to usa now
Yes let's make it impossible to be a millionaire in a country where a home requires a million dollars...
Best comment here 😂
If you support tax more to people, you are on the evil side.
Oh, no. People who make money just by having money are going to have to share some of that income on their money for the betterment of society?
The horrors.
To be clear, capital gains are NOT earned.
You think government "betters" society by taxing people more? My goodness, you need to open a history book.
You want to tax the rich?
THAT IS WHAT THIS DOES.
Poor folk don’t have appreciating capital assets.
Sheesh.
What do you think happens to your estate when you die? This is an estate tax.
Middle income....disposing of 250K+ worth of shares...what world does he live in with that median income?
If you put 20K into Nvidia 2 years ago, then you know exactly what he's talking about. We get it. That's not you. You're not an active investor, but that doesn't mean there aren't plenty of us who are.
@@incipidsigninsetupAre you really going to sell all your Nvidia stock in one year to realize your $942,000 gains? Because that’s a really bad move even under the current capital gains tax of 25% on 50% of the gains. I would ladder down my stock sale to stay within the $250,000 amount.
@@incipidsigninsetupcorrect…. Hardest thing in life: Explaining stupid person that it’s stupid.
@@LateForDinner-mn1hn the point was in regards to capital gains and the middle class.
If you understand anything, this tax is not just going to effect the "Rich" nor the Mid, it's anyone that would like to retire with a nest egg. Now think ANY fund will get a capital gains tax. Thus, if you have invested into a fund, the money you personally make off said fund will either go down each share or you will have to pay a higher commission on said fund to off set this capital gains. Rich, Mid and poor alike are being TAXED to death not just the people that make over $250000. WAKE UP, it's ALL Canadians that are trying very hard to put money away for retirement.
Why wont anyone think of the poor investors.
Because when they leave you get to live the socialist utopian dream. Oh wait, that doesn't end well does it.
Whats the problem. I hear its a tax write off
Oh boo hoo. 50% of Canadians barely survive pay check to pay check and you want us to care about investors? They never stop whining and crying over being asked to contribute back into a society that has given them so much. When they start caring about the rest of the country we'll start caring about them.
See when people like this talk about "the economy" they mean Wall St and the rich. Their "economy" is not the same as our economy.
The reason why 50% of canadians leave paycheck to paycheck is because of this government and you think giving them even more money to waste will make anything better? No wonder you are poor.
Pardon me if I don’t sympathize with people with $250,000/yr passive income from their investments because they will have to pay something closer to the same tax rate as someone who has a job.
Yeah, cuz you're lazy.
Don't forget the capital gain is not a salary like you receive from showing up for work every day. It is gained from putting money they save up and investing it for a chance to make a return. You are mixing up apples and oranges. If investors do not take risks, how will people get employed. We cannot all work for the government. The government does not generate income or wealth for people. They are a spending machine
It’s not how it works and has nothing to do with passive income. This has to do with investment and where you put your next dollar. As a business the answer is not Canada, these taxes are one more reason to not invest in Canada. The only investment in Canada is in areas where the government is providing some type of subsidy. Real investment is not coming to this country. We can barely invest in what we are good at (rocks and oil). We can barely even build a pipeline. We are unable to manage our cities, refer to the Ellington line in Toronto or the Allen expressway. Great government programs lol.
@@peterschroeder6665 Taxes absolutely affects behaviour, the 150 year long window tax in England changed how homes and other buildings were designed. But the point of having taxes at all is to pay for the social organization of people otherwise known as government. You say the only investment in Canada is in areas that government is providing subsidies but exactly where did the government get the money to pay subsidies? The answer is taxes, the sole revenue of government. And who should pay the taxes to provide subsidies for corporations to invest in developing resources for profits that aren’t going to be taxed? The story of the Red Hen comes to mind.
The biggest problem Canada has is that it’s big. The population is concentrated in the areas with ports to shift imports and exports and the hinterland is so vast that transportation is expensive. Canada isn’t going to lose rich people or investors because of this change in capital gains inclusion amount, because other governments are going to do the same thing since they also need to balance their books to reduce debt that is held in bonds etc by the rich. Governments won’t default on their bonds, they’ll just tax back the interest they paid out.
That will just drive investments away and less jobs will be created smarta**
BS if you think that making Over 250000 of capital gains "mid income" you are so out of touch with reality. pay your fare share.
Your forsure a Biden supporter what a lame
Justin can’t change course he needs more money, he’s spending and needs more, not talking about the deficit that will balance itself.🥸