Quote Originally Posted by Rocket1k78 View Post
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Its a townhouse so the prices didnt go crazy like SFH and with it being a rental id be hit with major taxes, i bought it for 150k and now its maybe 330 so you can imagine the taxes and add in the realtor fees too. I did cash in on a SFH last month though and i made good money but ill also be paying around $60k to the gubment

My plan is to keep a couple rentals to use as supplementary with my $7.2 when i retire
Well you'd only pay your tax rate on 90k, so 30k to the goberment.

Also there's some merit for considering paying taxes now. If for example one has little faith in the federal government to manage our countries finances, they could fuck Canadians over and wipe the 50% exemption for capital gains taxes. Which would mean you'd pay taxes on 180k of gains down the road instead of 90k in gains now.

No idea if that'd ever happen but given the shitfest that is the liberal-ndp mess steering this ship into the rocks who knows.