2024 Federal Budget - Capital Gain Tax Increase!

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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?
Don't miss out!
If you find this episode interesting and educational, don't forget to give it a thumbs up! Subscribe and hit the bell to stay updated on our latest content. Your support helps us continue to create informative videos like this. Thanks for watching, and we look forward to hearing your thoughts in the comments below!

[@johnvanar1808]

We need the election now

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[@fernandohafalla298]

Good analysis

[@michelgrenier1878]

Capital gains on inherited property ?

[@HuxtableTV]

Before 1972 Canada had no capital gains tax, at least not on real property. At the same time life was good, no homelessness, everyone could reasonably hope to buy a home, have tropical holidays, no beggars, very little drug addiction and of much less severe quality, no unemployment, crime rate incomparably lower, less stress. Yet, no capital gain tax, at least not on real property! What is wrong with today's picture?

[@mr.b5583]

Can anyone please clarify if this new regulation is already approved and effective from june 25, 2024? Thanks

[@janardhanvardi8974]

you are wonderful. 100% your right!!

[@suekuan1540]

My boss was lucky. He sold the business last year in 2023 for many many millions so , he saved 16,% ...

[@carlomagno7809]

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.

[@HuxtableTV]

Sadly, they don't know how to run this country, it is in tatters: tent cities, homelessness, unemployment, worse and worse drug addiction, 60% of citizens have no access to doctors, food prices doubled in a couple of years, crime at awful levels and the list goes on... But, there are repeatedly billions given to foreign nationals.

[@trojanproducttester]

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.

[@rabyhaeri8944]

When the investor escape the country ,not goodness.. who is bringing money here..this ????

[@HuxtableTV]

"Properties dont cash flow anymore" you said. It is much more difficult, due to government restrictions which ignore increasing property tax, strata fee, tradesman repair, special levy, insurance, high mortgage rate demands all together. Not every tenant is DOWN AND OUT to require so much restriction. Much of their demography is much better off than the landlord.

[@AlphaMatt1000]

Absolutely ridiculous. This increase in capital gains tax is atrocious.

[@yourmainful]

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...

[@rupinderdhillon9662]

do we also pay capital gains tax on principal residence too if we sell?

[@SamSarabi]

No.

[@HuxtableTV]

Not yet. Castreau is saving that surprise for next year. 😒🙄😳

[@Relaxlifeisshort2]

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

[@user-ub5jv6th1m]

What if keeping the property longer but the capital gain inclusion rate increases again in the future?

[@HuxtableTV]

That is a possible risk, less so with Pierre.

[@rabyhaeri8944]

This tax will kill economic.?????wants ruin canada.😢😢😢😢

[@Rogsalman]

Vacancies will be taxed more forcing you to rent, love that.

[@WahidKhawaja]

You want to scam others because they scammed you in this pyramid scheme?

[@HuxtableTV]

They try to catch you, or rather, any money you make, very creatively.

[@kanwarpuri3667]

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.

[@HuxtableTV]

Exactly. They do not know what they are doing, they are clueless. It is like toddlers driving a Cadillac.

[@andrewmccoll1582]

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

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This sounds so good and I would like to be a party to this, is there any way I can speak with her?

[@timshammm]

time to sell and leave the country?

[@samzip1582]

Leave the country, this is my advice and thanks for great video .

[@dwights1024]

Okay then u leave see ya

[@samzip1582]

@@dwights1024 Enjoy the taxes lol , bye

[@user-mh7vd4cn5p]

no u dont

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Flee Canada, hopeless😢

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The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional

[@NN-xq2by]

if investors don't sell or rent, they are losing money. Greedy investors won't lose money.

[@dwights1024]

Ignorance at its finest right here

[@Rogsalman]

Great, all social democracies tax capital gains, no free ride for the rich!

[@HuxtableTV]

Taxing capital gains on a property where the price highly inflated in 40 years means that the person is going "backwards". He will not be able to buy a similar value with his money left after taxation. Inflation is a tax in itself, even though not called that way. Paying capital gain tax on top amounts to double if not triple taxation. Tx on tax on tax = compounded tax demands.

[@TokerSurvivalHandbook]

Rich people crying they don't want to pay their fair share, eat the rich

[@W1thcdoctor1987]

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.

[@freiheitsfighter3051]

"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 ?

[@HuxtableTV]

Eat the stupid, who thinks people who expand energy and apply themselves relentlessly are rich.