The capital gains tax, explained 

With that thought process, there then is no need for a capital gains tax...eh.

Explain that to those Canadians that will have to pay this tax with real money.

@@maxbork4087 My point was that a good portion of capital gains was not real value, and that a capital gains tax is not that fair in a high inflationary environment.

@@maxbork4087 It explains why a 50% inclusion is fair, but a 75% or 100% is unfair. Any increase is not justified beyond 50% is punitive.

What about conversion to RIF account? It's not all but you can hedge a good withdrawal tax free no?

Nope!

​@@Iban-UndergroundThen why is it a measly 150,000 and up in income is taxed at almost 50% between both federal and provincial taxes, forgetting all the slew of other taxes.

@@theangrycanuck8331 Are you trying to refer to the costal gains tax here? Also, was it a crime to be successful during the 60s?

@@Iban-Underground I'm refering to income tax, where you are taxed per bracket on a different rate, and when you hit 150,000 you are essentially taxed half of your income. You don't know anything regarding taxes do you? You think its like a game. "Oh set to 10% so it's 10%" Forgets tax brackets, federal and provincial taxes, cpp, mandatory EI if employed by an employer, also forgets there's sales tax, property tax, fuel tax, duty tax, corporate tax, so on and so forth.

@@theangrycanuck8331 No I was just trying to figure out what you were trying to refer to since you are very poor at explaining your points. Anyways, answer the question. Was it a crime to be successful during the 50s and 60s?

Totally agree matthew

Nope! Society is a collective effort that requires all of us to pitch in and work together in order to make it function. And wouldn't you know it, people who become increasingly wealthy tend to try and hide from that fact. The Panama papers were a great example of that.

Taxation is what you pay for using collective social effort.

​@@Monzeobe no its what's paid to excuse greed and by way corruption. Look at the food sold in stores, super low quality with a list of industrial chemicals for ingredients. Many who champion taxes are those who wish to worship bureaucracy as their stand in god. How long people? How long will you suffer such evil? How long will you reject the Truth who is manifest in King Jesus?

Yep, all of these people forget that societies existed long before taxes, and many societies have much less taxes today and function just as well.

Unfortunately this is the type of tax thats generally supported by the envious. So this point will be ignored. The fact that this actually hurts the country will be ignored.

​@@robertb8629No one supports having 50% of your heard earned profits, put into taxable income and then taxed at 50% if you're over 150,000 annual income. That's an absurd and buffoonish premise that no one who actually has the drive to be successful, will support.

Not me. Furthermore, the CAD$ is losing so much value that it could go down to 50 cents to the US$.

Because there is money to be made. No business would drop an entire market because of a bit of tax. Most companies didn't even pull out of Russia who invaded another country lmao. Why would they pull out here?

@Iban-Underground: maybe mention that to the doctors refusing to come here because of the taxes.

@@BudzzableRides That most certainly is not the reason they won't come here lmao. It has more to do with the fact that they can make a killing off the private system in other countries over a public one in Canada. (See, the USA) But good news! A better funded public system means more money for doctors in said system, encouraging them stay. More good news, we can also leverage a tax exemption for doctors and nurses to help encourage them to stay as well! Oh, and doctors and corporations are two seperate things. My original point still stands.

​@Iban-Underground naive to think that. Besides using 'tax exemption' as an incentive implies that you have surrendered your will to bureaucracy, and now they are renting it back to you under certain conditions. The madness is too apparent to ignore.

Naw not really.

If only.

Eat the rich

​@TokerSurvivalHandbook if you have more than one pair of closed toe shoes you are in the top 90%. Throw yourself on the grill first.

@@TokerSurvivalHandbook why are they getting bonuses passing laws taxing the middle class

@@theangrycanuck8331 why do you work for Russia 😂

@@TokerSurvivalHandbook They're more competent than us

Boo Hoo

Good question - perhaps as it was your child's primary residence it would be exempt?

My guess nothing, a co signer is signed to the house and mortgage so maybe then you would but I highly doubt it, a guarantor is only signed on the mortgage so I would expect even less of a chance.

Very good question. Seem like replies are "perhaps" or "may be". I think, we should ask this question from our bank or the CRA. I feel like the govt will try finding all possible avenues to leech off money from hardworking taxpayers for their bribe spending for votes.

As long as you’re not on title as one of the owners. Owners of the property would be subject to gains tax if not primary residence of the owner(s)

You pay per what you own as an intreast in a property jf you own 1 percent you pay the tax on 1 percent

Only comment with likes lol 😅

Taxation helps fight inflation by returning money back to the pool it came from, so your argument doesn't hold up. As well the money it is taking back currently, is for people who are making over 250K in gains in a year, even with current inflation rates it'll be a long way off before that affects the regular Canadian, majority of whom can't currently even afford a house or property to ever even reach this kind of taxation. Also, inheritance taxes and high capital gains taxes can influence housing prices and drop them, by less incentivizing the using of a real estate as a form of investment. Seeing housing as a human right and not an investment is something we need right now in order to deal with the countless encampments in cities across the countries, reducing the high rents, and actually enabling our people to live in homes.

Wtf

​@@nickbarss1693Help return money? Inflation is literally caused by creating money INTO THE SUPPLY without any PRODUCTION TO BACK IT. Taxation only removes any money with value from the hands of everyday people, to cover the cost of rising prices due to the inflation of the money supply.

Oh the drama. "Ripping families apart"? Give us a break. God forbid people who don't have to work for something that is grossly overvalued inherit it with some strings attached. Seems greed is always fine until it runs full circle and negatively affects the people who benefited from it. Maybe astronomical property inflation that shuts out a large % of the population from "the market" isn't so great after all, eh?

Housing shouldn't be an investment

You're right, it never should have been reduced in the first place.

​@@Iban-Underground After all, fuck having anyone invest in our country, clearly revenue is doing so well the federal government isn't hiking taxes across the board cause it's broke as f Oh wait it is.

@@theangrycanuck8331They can and will invest in our country regardless of taxes. Corporations will not miss out on a market just because something minor is in the way. Look at the companies that "sanctioned" Russia as an example. And again, people operate and invest in Nordic countries, that have higher taxes rates than we do.

@@Iban-Underground You know the Canadian Government also purchases and deals with Russia despite putting sanctions. Corporations pay more tax than you, and so do people that make more money than you. Eventually you'll make them all look elsewhere and you'll have to cover their share or live without what they paid for.

@@theangrycanuck8331 There is a difference between a state's sanctions and corporation's sanctions. But beyond that, what I am referencing is how corporations "sanctioned" Russia, pulling out of its markets. Only to sell it under a subsidiary in Russia, changing only the logo. The point is, companies will never pull out of a market. And how about addressing the Nordic countries? Don't ignore it because it disproves you.

Bots r sad

80 hours a week is literally illegal. Either this poster is lying, or they are a criminal. Taking bets now folks.

Idk who is he. Please explain who is he, otherwise I, a Canadian, will not know. Go on, be open.

@@Iban-Underground it is a quote from a book called “Atlas Shrugged” by Ayn Rand. Good read. It explains what is happening to our country right now.

@@queenbigb personally I'm a big fan of 1984. By everyone's favourite socialist, George Orwell.

So what's your solution then? No seriously, if the wealthy won't pay their taxes, or try to get out of them all the time, then what should we do to ensure they are taxed. Think hard, I'd love an answer.

Shows your ignorance

@@gujaraticanadianthe ignorance is the stupid government who can’t handle their own finances so they have to rob everyone to compensate for their terrible job

Principal residences have been exempted from capital gains for MANY years

Own nothing be happy says Klaus swabs

" you will own nothing and be happy " wef

They are tax free when you WITHDRAW, because you pay tax on the money you put in at the applicable tax rate (so you've already paid tax on that money once)

Literally no lmao. Corporations *never* leave a market

100 percent all paid media here

Taxation isn't theft.

this is Trickle-down economics nonsense and the theory of the simple sucker. corporations ain't raising salaries or jobs just because they can. they reinvest in their businesses when their profits are taxed at high levels when it reaches astronomical levels ...to coin a term 'for obvious reasons'.

Naw

Average canadians that do anything to earn extra income will be affected, dude people buy stocks at home, that's capital gains. It's not just rich people.

@@theangrycanuck8331 Which is it mate? Can Canadians "not afford homes" like the cons are saying, or are they all buying second homes to sell as a stock? Which, mind you, is disgusting. Decommodify homes.

@@Iban-Underground First of all, no people can't afford to buy homes because there is far too low supply and far too high demand, making it very difficult for anyone without liquidity capable of putting down a big down payment, to get a mortgage on a fixed rate that isn't going to essentially kill their entire income. It's cheaper now to rent, than to own a home. Secondly, you can't decomodify a home, a home is a literal product that must be manufactured with goods and labour, thus has a value that must be met or guess what? No ones building that home and you're not getting materials to build it. And since developers invested into materials and labour to build that home, of course they want to profit from its sale, and after the first home owner has owned that property and taken care of and maintained it, thus raising its value, they want to sell it off or pass it down to either profit off their investment, or keep growing their investment. You don't deserve free things just cause you want them. Get a job and provide value to society.

Ahh yes letting *checks notes* Russia invade other countries is the policy of the *squints eyes* "good guys".

Are you serious?

​@@cpogan157Did you think Tenants cover all of the cost? My rent is 1650, the mortgage on my unit before property taxes is around 3400 a month lol

Naw you won't be.

I just did a calculation and yes I am.

@@MPOEducationalEnterprises what do you do?

@@Iban-Underground@Iban-Underground I am the owner of two companies; one of them was destroyed by the government's pandemic policy and is slowly coming back and the other one is an LMS.

@@MPOEducationalEnterprises Whomp Whomp, you're one of the wealthy.

No it won't. Every Nordic country with higher taxes is fine. The states also announced an increase in clerical gains tax. Calm down

@@Iban-Underground Are we now taxing Canadians in to poverty to change the world's weather?

@@Iban-Underground This is Canada not every Nordic country, stay focused.

@@maxbork4087 My man, if every other Nordic country's with high taxes can do fine, what makes us the exception? Because it isn't the taxes that are the issues. Use some critical thinking.

@@Iban-Underground Clarify "it isn't the taxes that are the issues"!

You're an odd bird.

Same lmao.

It's a start at least.

Asking for slavery wow. Look to Yeshua and repent

@@Rflows100 how so? Were the boomers endlaved when they had high capital gains tax?

@@Rflows100 if only you understood politics and economics

​@@thetruedemocraticnorth Do you know what the tax burden is already for people that make over 55,000 a year?

Naw, pay taxes brokie.

semi capitalist lol??? We're a social democracy.