2024 Federal Budget - Capital Gain Tax Increase!
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- Опубліковано 5 чер 2024
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Impact of New Capital Gain Tax in the 2024-2025 Federal Budget
Welcome to our latest episode, where we dive into the 2024-2025 Federal Budget and explore the impact of a significant change that could affect the housing market and investments. This year, the government has proposed an increase in the inclusion rate for capital gains, a move that could have ripple effects across the economy.
In this video, I focus on the new capital gain tax, discussing the changes, who it impacts, and when it takes effect. More importantly, I share my three predictions about what this change could mean for the housing market, the construction industry, and inflation.
Here's what you can expect from this video:
A breakdown of the new inclusion rate for capital gains, explaining how it affects individuals, corporations, and trusts.
Predictions about the potential supply problem in the resale market and the demand problem in pre-construction.
Insights into the possible long-term effects on the housing market and the overall economy, including the risk of rising inflation.
These changes could be a game-changer for property owners and investors, so it's crucial to understand what's happening. Whether you're considering selling a property, planning an investment, or just curious about the future of housing, this video is for you.
Join the conversation!
What do you think about the new capital gain tax? Good or bad?
Will the inclusion rate go back to 50% soon?
Are you planning to sell your property before the new rules take effect? If so, do you think you can close the transaction before June 25, 2024?
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We need the election now
I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life.
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The budget presented is not good. It’s more spending and more taxation. If my wife and I spent money like the Liberals or Trudeau we would be bankrupt long time ago.
Good analysis
My boss was lucky. He sold the business last year in 2023 for many many millions so , he saved 16,% ...
I think your wrong and this will encourage people to offload their investment properties. Most people that bought in 2017 are barely cash flowing and maybe breaking even. There is too much risk when you can put the money in the stock market or Gic and not deal with tenants not paying. Also corporations will sell off their properties and go to other countries such as the Usa. Properties dont cash flow anymore lol especially condos and their maintenance fees.
When the investor escape the country ,not goodness.. who is bringing money here..this ????
you are wonderful. 100% your right!!
Can anyone please clarify if this new regulation is already approved and effective from june 25, 2024? Thanks
Capital gains on inherited property ?
What if keeping the property longer but the capital gain inclusion rate increases again in the future?
Trudeau says it is question of fairness. If that is the case why he did not he raise capital gains tax 9 years earlier during his first budget. It was not fair then and it is not fair now. Canada will lose investments which will be more than the taxes Trudeau will be collecting. Ripple effects on our economy will be drastic . Both Trudeau and Freeland needs to take high school level courses on economics. It is very sad when we choose politicians who are not qualified to their job. Both would have been thrown out if they worked for a private company.
do we also pay capital gains tax on principal residence too if we sell?
No.
Vacancies will be taxed more forcing you to rent, love that.
You want to scam others because they scammed you in this pyramid scheme?
Absolutely ridiculous. This increase in capital gains tax is atrocious.
Not really. What is ABSOLUTLEY RIDICULOUS is a person who bought a home in Van or Ontario for 800k with 150k down payment in 2014 (while an engineer was earning 120k per year gross) re-listing the same exact home with zero renovation, coat of paint, spending money to change a freaking light bulb but a massive grin, for $2,699,000 and turning his 150k down payment into $2,050,000, basically won the lottery. And the same engineer, lawyer, clinician, welder ect building this country who was making 120k in 2014 currently earns 150k gross which is about a 15k net increase in 10 years. He has about 200 more years of saving his extra income to make 2,000,000 to catch up to the VOMIT INDUCING Government INTENTIALLY PRODUCED hyper inflation in RESIDENTIAL housing! No where on earth has this crap happened at this level NO WHERE but Canashite...
Thats if the budget goes through
But singh will pass it of course
You don sell a property because of taxes
If you have had it a long time.
And if it creates a supply issue even more so
Despite all the financial struggles i and my family faced, everything is finally falling into place! $47,000 weekly profit and riches I'll always praise the Lord
Same here, with my current portfolio made from my investments with my personal financial advisor I totally agree with you
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Good video, but I don't think people sitting on $400,000+ in capital gains on condos bought before 2017 are going to let a slightly higher tax prevent them from selling if they want to just divest for life purposes, financial reasons, etc.
It's still a *huge* amount of cash
This tax will kill economic.?????wants ruin canada.😢😢😢😢
Flee Canada, hopeless😢
I did, as many other wise individuals did too, because I saw all this sh-- coming. It gets worse every year and Canada has become totally uninteresting as a country. Total waste of energy, time and money....
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As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided
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no u dont
Leave the country, this is my advice and thanks for great video .
Okay then u leave see ya
@@dwights1024 Enjoy the taxes lol , bye
if investors don't sell or rent, they are losing money. Greedy investors won't lose money.
Ignorance at its finest right here
time to sell and leave the country?
Great, all social democracies tax capital gains, no free ride for the rich!
Rich people crying they don't want to pay their fair share, eat the rich
Not all landlords are "rich". But since 80 percent of Gen-Z families don't qualify for a mortgage loan, they MUST become tenants. So wait a few more years and you'll see who is crying. It won't be the landlords. The lesson in all this for the federal government is that you cannot tax your way into prosperity.
"fair share" you got sucked in by Trudeau, what is supposed to be "rich" is inflation, I could live without it. No inflation, no capital gains. I have a small second home, want to leave it to my grandkids, capital gains because inflation jacked up the numbers. The tax is real dollar, where are they supposed to come from ?