Trudeau has to go?

[max_boost]

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Sooo..... 3.87 million new homes by 2031.

I mean, if they were 12 by 20 footers made of cardboard it might be doable.

Build more apartments
Communist living
We are in this together

[killramos]

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There are already tax rules around this, they're much more punitive. It's something like a 53.5% tax rate on dispensed investments.

And fucking gains in trusts fucks any attempt to get your affaires in order efficiently.

[ZenOps]

Its hard to know the knock on effects of raising the capital gains on housing (and especially renting) in this environment.

Will there be a slow panic of rental property sales before June? Probably. Will this raise rents even further in the short term? Maybe.

I think the lady has it right.

[ZenOps]

If you have a joint bank account with an older parent it might be time to just have the kid take the entire amount and oddly enough, put the parent in as the beneficiary. If they are going to require filing of bare trusts next year over $50,000 I'd say the government is just lining up the ducks for anyone on said joint accounts for future tax grabs to tax generational wealth.

[CompletelyNumb]

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Unfortunately the current capital gains regime does not delineate between a Doctor, lawyer or real estate agent who has a professional corporation as a tax deference strategy and uses retained earnings to buy SPY, from a business owner who is using retained earnings to acquire another business or invest and in other private businesses etc. I think if you incentivized the latter your supporting those most capable of improving productivity in Canada. While those who fall into the former category, should pay an elevated tax rate on capital gains generated through their stock portfolio or other institutional investment returns, as they are simply working the system to avoid paying taxes on what should really be personally recognized investment income. But the reality is this is impossible to effectively sort.

Tax integration made your point pretty moot, there was no working the system. After June 25 it sure would make more sense for those businesses to pay themselves out and invest in an RRSP instead of their corp. But we shouldn't be taxing either on the first $250k.

I do agree we need more incentives for real growth, and not just the pitiful SR&ED and CanExport programs we have now.

[suntan]

Using a corp to invest in something like SPY hasn't worked for decades now.

[Cash Money Hoes]

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Using a corp to invest in something like SPY hasn't worked for decades now.

SPY in my example is a proxy for any passive investment with goal of capital appreciation.

@CompletelyNumb

Familiarize yourself with the Capital Dividend Account. You'll find this is what is used by high net worth individuals to minimize tax on passive investments and circumnavigates tax integration.

The increase in inclusion rate for all capital gains earned by corps while preserving a 250k threshold for individuals effectively closes this passive investment 'loophole' which is good, but at the same time actual entrepreneurs are now disincentivized from taking entrepreneurial risks which is not good.

[suntan]

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SPY in my example is a proxy for any passive investment with goal of capital appreciation.

Thank you, I understand what you meant.

[ExtraSlow]

I just use my cash money to buy hoes. No tax on that (yet).

[suntan]

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I just use my cash money to buy hoes. No tax on that (yet).

They're taxed at hoe depot.

[Buster]

Some of my work gives me first hand insight into how tax policy on the ultra wealth (or really just kinda wealth), just changes their tax management strategy and makes it slightly more expensive.

but what it does NOT do, is increase tax revenue from these people.

"Taxing the rich" simply puts money in the pockets of the leecher class that surrounds the wealthy (accountants, bankers, finance bros). That's it. That's all. The wealthy people win just slightly less. The taxpayer loses. The leechers win big.

[ZenOps]

The wealthy will always find a way to shelter generational wealth. From building a yacht, filling it with 20 tons of chocolate and sailing it to international waters, to buying a non-profit museum and a $400 million mona.

This budget does seem to want to go after easier targets - the people who own one residence and were planning on renting another for their retirement income.

[SportEL]

You can sign the petition to add the word 'Trudeauing' to the Dictionary.

[mr2mike]

@Buster you're correct. At some point it becomes more beneficial to spend $100k to people to reduce your tax burden via various loop holes and methods.


I'm not EnRich but I'm Norbert Gambit'ing. Need my Cdn peso outta here.

[suntan]

It's simply a form of economic stimulation. See win win.

[killramos]

https://www.ctvnews.ca/politics/what...dget-1.6859627

Looks like Trudeau can’t even do a good job by buying votes lol

Everyone still hates the budget.

[davidI]

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Everyone still hates the budget.

Only 21 per cent said they had a positive opinion, and one-third of respondents said they didn't know or preferred not to answer.

The problem with Canadian politics in a nutshell.

[JRSC00LUDE]

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Only 21 per cent said they had a positive opinion, and one-third of respondents said they didn't know or preferred not to answer.

The problem with Canadian politics in a nutshell.

That they're retarded by majority? Fuck, just wait until today's kids get to voting age. haha

[davidI]

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That they're retarded by majority? Fuck, just wait until today's kids get to voting age. haha

50% are retarded. 30% are ignorant.

[littledan]

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50% are retarded. 30% are ignorant.

Damn, that only leaves like... 30% of us smart ones.