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Capital gain tax changes moving forward
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- Опубліковано 19 сер 2024
- Finance Minister Chrystia Freeland has introduced a motion to increase the capital gains inclusion rate from 50 per cent to 67 per cent. Those making 250-thousand dollars in profits in a single year from income like the sale of secondary properties or stock options will likely see the most impact.
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Even with this tax government will still have a 50 billion deficit this year. What will this incompetent government tax next
Netflix 🤦🏻♀️
Everything till you own nothing!
Hmmm, have you got children.
We'll tax their future earnings, it's only fair. They have the opportunity to become wealthy in Trudeau/ Freeland New Canada 🇨🇦
Your stupidity is showing. The deficit will be SMALLER for this new tax and that's a GOOD thing. If you can't understand that, talk to someone you know who has an actual IQ and get them to explain it to you.
How about spend less so you don’t have to tax more… ? It’s common sense.
???
Solid counter point? I have no idea what this clueless response is even trying to say.
how about stopping TO FUND a losing war???
As a small business owner who has struggled, worked hard and made sacrifices, I am counting on the eventual sale of my business to get me through retirement since I won’t have a government pension. Am I wealthy? Hell no. Far from it.
Ditto ,
And you'll still pay less tax than if you'd been a salaried employee.
Even if you make 3 million in capital gains, only 3/4 of that will be taxable and it's only taxed at roughly 34%. If you'd earned that as a salary you'd be paying well over 50% tax on 100% of your salary. You're still better off.
You have the option to pay into the govt pension as a business owner, like everyone else. If you choose not to, that's your choice not the govts fault.
@@lizliz4186go back to whatever liberal call center you came from. No one agrees with you. Literally zero people who work for a living think this is good
@@lizliz4186 LOL 3 million! I wish. I'm a SMALL business owner. My point is, this capital gains isn't only hurting the millionaires of Canada, it will be hurting the mom and pop business owners that need all the money they can get when selling their business, in order to live out the rest of their lives.
I don’t understand your point - is the tax that salaried T4 employees pay on their biweekly paycheques “hurting” their retirements? Based on your argument everyone’s income tax should be lower or have reduced inclusion rates.
Bye bye investors, FYI, businesses make job, not the gov
Spreading your fear?
@@lizliz4186 you libs don't like the truth.
Isnt this the same Canadian government that told our doctors 8 to 10 years ago to invest in real-estate to offset the lack of pensions? Then jusy to say "oh, by the way we'll take your hard earned investments now, thanks for listening idiots" Kind of extremely scummy. And CP24 should talk about that more.
Who in their right mind would listen to anything this gov has to say.
@@RaneBane Canadians .
They would have been taxed more as salaried employees. They still only pay taxes in 3/4 of their capitals gains and that tax is still below 30%, far less than the 54% they would pay on their salary.
@@lizliz4186 They tax you on your salery , your wage , whenever you buy stuff . But i do support the wars they fund and the bigger future wars we need , so it's ok . But it just seems never ending .
@@lizliz4186 So lower our salery taxes , dont raise someone elses tax to match , that dont help .
Way to keep people slaves. Who wants to expand invest into independence. You take a risk starting up if you succeed and you do "too" good the government gets 66%...its not just property sales.
Twich needs to chill on her meds
It’s pervatine… she is a real nazi descendent 🤷♂️
Taxing the rich?... My family and I own properties that were passed down, because my family were the first to settle in my hometown and we kept our land. So now because we own more than one property, we are considered rich and are going to have to pay ridiculous taxes?... We are far from rich, we get taxed way too much as is and can barely live and now if we sell to try to pay taxes we get taxed almost everything away and end up with nothing. We don;t wanna lose our land it's special. We are not rich and this will make us even less rich.
Audit the Freeland's and the Trudeau's
Bad news for keeping doctors and business in Canada.
Here is another nail on the coffin of the Canadian economy. One wonders where PM Trudeau and his finance minister Freedman studied economics! No wonder people don’t invest in Canada and leave in droves! You need grade 10 education to understand that when you print more money than the goods and services you provide, you get inflation. Who is affected more with inflation? The low and middle classes. Perhaps all politicians should pass a basic economics exam before they are allowed to run for a political office.
With this inflation doesnt $250k this year feel like $125k from 4 years ago?
Perhaps we also need to adjust the tax brackets higher to be fair and compensate cansdians so the middle class and the poor people can survive this new reality. Cant just inflate everything then leave the brackets the same, thats actually nuts.
They did. Tax brackets were adjusted at the beginning of the year. Not to the extent you're probably looking for but they did do it.
@@lizliz4186 i acknowledge they have yes, ignoring my feeling about the adjustment, do you feel it's an accurate representation of the economic reality we all face?
Tax tax tax gotta fund those wars .
These incompetent , corrupt politicians need to be run right out of Canada
Increasing taxes is always the solution...for the simple minded politician!!
"We are debasing the currency so we can continue paying our debts, now you all will have to become investors just to preserve your wealth. Oh, and we will be taxing any gains on those investments even though you took on all of the risk. Its a deal, whether you agree with how we use your taxes or not. Thats the beauty of the fiat system, we dont need your permission to raise taxes or go to war, we can just print money and leave the debt for future generations. Please re-elect us."
I could laugh out loud at your post, But I won't because I'm crying at the destruction of Canada by these bloody fools...
There goes the retirement....
Looks like our government has been doing a lot of napkin math...
The other point to remember is that all these assets have been acquired using after-tax dollars
Not necessarily. If its a small business or somebody who owns a rental property or somebody who's a doctor with a business then these were all expenses which means they're pre-tax.
You must be thinking of the wealthy people who own two and three homes.
I'm a carpenter who purchased a rental property to supplement my retirement. The purchase price and mortgage payments are not deductible or exempt, rental income is taxed as income, and the only deductions are maintenance expenses which CRA makes every attempt to denying
But real estate appreciates to the moon so you will be ok even with the new tax. People are selling properties at 300% appreciation from the sale price it’s all funny money that you earned on top of your trade. We’re all getting squeezed one way or the other by CRA
@MentionBiscuit I have worked in an industry that doesn't generally benefit from organized pension plans. The appreciation in real estate value is the largest portion of my "nest egg" ,this proposed change is equivalent to the government helping themselves to your RRSP's. The idea that this is a tax on the rich is delusional, this is an attack on middle income trades, small businesses,and professionals who invested because they did not have access to secured union or government pensions
@@lizliz4186absolutely not, there is ZERO pretax, its all aftertax unless it was in your registered accounts and those are not taxed under capitals gains anyway. Any small business or incorporations have a tax applied to their earnings already its just a slightly lower tax bracket than personal, because eventually that money will be taxed ONCE AGAIN when the owner/shareholder of the business withdraws the funds to their personal accounts, stop spreading misinformation
This is an absolute joke - I'm moving to the US
Get rid of this government Canada😅
Move asap
How Freeland become Canada Finance Minster its beyond my imagination
Makes zero sense. At the very least, extend the 250k limit to CCPCs. This is going to impact every professional corporation and small business owner who fund their own pension plan by investing corporate retained earnings
Why the footage of someone having their teeth cleaned? Is it because dentists are subject to the tax? If so perhaps focus the camera on a dentist and not a dental hygienist's patient maybe.
CP24 is run by a bunch of amateurs. They don't seem to know what proof reading or spell check is when publishing articles on their website either.
Because Freeloader says this new tax is going to fund dental care, pharamara care, daycare, housing.
@@TheTracerB thank you, I don't know why I couldn't put those 2 together. Guess Freeloader's voice dismantles my brain.
The corruption continues.
Whats mine is mine & yours is mine
What's theirs is mine
All Canadian speaking,Freeland is not qualified position,and you should know yourself,Freeland must step down,
Somebody needs to explain this properly to this liberal government.
Moving back to Italy,
They found a way to cover their spending mistakes.
The dumbest budget of a govt can suggest. This create brain drain and migration for retirees
❤️🇨🇦✨ Go TEAM CANADA 💪 I’m so proud to watch the Liberals stand up strong for everyday Canadians ❤️🇨🇦👏
At this point, its better for me to close down my Company and go on welfare.
We need accountability throughout the entire government. If they can’t control their spending or adhere to the promises they made prior to running for office then they should be disqualified for running again.
The feds are treasonous
Look at all the people who voted Harper out not kicking themselves. Never vote liberals again if you want to prosper in this country.
This time I am with liberals. Stop shedding crocodile 🐊 tears 😭 and start paying your fair share of taxes 😂
How fare if your parents die, you are paying capital gains lol you get nothing in return 😂
@@linaF5050 stop giving all these lame excuses, please
Ok freeloader
I blame Jagmeet Singh Khalistani support and sleep with Trudeau vote yes for everything.
A secondary home should not be taxed. However, you need to stop people from buying and flipping.
Run away? Rise and fight.
CHRISTY FREELAND VOTED OUT TORONTO 2025 😮😮😮😮😮
Perfect!
What if you own a second property in another country and decide to sell it? Is it subject to capital gains
Yes. Canadian is taxed on global income.
The best options atm, is leave Canada
@@ms.m715 False.
booooo
And that's a WONDERFUL thing. Because it's one small way to equalize the extreme wealth differential between rich people and average Canadians. The rules will apply to1% or 10th of 1% of Canadians. The very richest ones. Why not do some actual journalism and point out that this is a WONDERFUL change? Not wonderful in any political way, wonderful for all Canadians economically?
I hope you're just being a sarcastic troll.
@@siriusfun I actually understand how the legislation works and what it's trying to do, which is to equalize income and net worth between the richest people in Canada and the average Canadian. I'm not a brain dead, Kool-Aid drinking moron like yourself. We have needed this kind of legislation for excess income, wealth and capital gains for decades. Maybe longer.
@@siriusfun We don't have an income or wealth problem in Canada. We have a problem with the DISTRIBUTION of that income and wealth. You are suffering from that unless you are Galen Weston. You aren't getting your share of the income and wealth but you're just too stupid to understand that. The thinking people in Canada, including this government, Will try to help you out. Because you're too stupid to help yourself out.
@@siriusfun It's always baffling to be dealing with someone who is too stupid to understand their own interests. Baffling to be arguing for their interests, even as they angrily argue against them. Your stupid is showing.
We need help from the United Nations this government is destroying Canada at every turn with their tax after tax after tax and their spending problem and unsustainable open borders.
So definitely a bot. Help from the U.N 😅😅😅
These poor folks who make more than a million dollars a year and have a second home on the lake or a third one abroad will find loopholes it is a question of fairness
Good. Tax the rich. Feed the poor!
Rich don't pay taxes, they never need to cash out. This has far more impact on the middle class
Bot right?
😂it looks like you are not getting it
@@Anonymous_Whisper The only bots here are Russian and PP bots.
@@titusmccarthy nah I almost never see bot posts from them, mostly lefties. Though they might now technically be bots they just talk like NPCs cause they can't think for themselves or make any valid arguments.