An increase to the capital gains tax does not send an inviting message for business in Canada

If we don't have new investment in Canada, we're in trouble, says Walied Soliman, Chair, Norton Rose Fulbright Canada. Soliman joins Mark McQueen for a panel discussion on Canada's Federal budget 2024, along with Mark McQueen, founder, Wellington Growth Partners
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[@hersdera]

In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

[@ScottKindle-bk3hx]

If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@nicolasbenson009]

you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@SandraDave.]

That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?

[@nicolasbenson009]

Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.

[@HectorWhitney]

I checked Melissa up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.

[@antoxa.310]

This country already has a horrific productivity and now there will be even less investment, which means lower productivity and lower standards of living in our future. What an awful government!

[@Clamps-nn2pz]

Exactly I cant tell you how hard it is for people to understand this. The government and its hate the rich hate the company message has worked on more people that I would like to see.

[@masterferguson8703]

This why I'm moving fucking this garbage hahah

[@Subotai111]

short the CAD!!!

[@trails3597]

The sky is falling. Hyperbolic adjectives are a sure sign.

[@antoxa.310]

@@trails3597 Well, our standard of living has fallen behind the US by 40% (US GDP=70k vs Canada GDP=50k). Sure the sky is not falling and I don't think anyone will starve to death but it's not something to be happy about either. The country is a shitshow no matter how you spin it.

[@frederickclause2694]

It's basically an NDP government, did you really expect it to be pro-business?

[@thetruedemocraticnorth]

pro-worker instead of pro-enterprise.

[@frederickclause2694]

@@thetruedemocraticnorth Obviously, that's why the helped create all those part time jobs. Now the workers can have 4 jobs to be able to eventually afford to share a 2 bedroom apartment with 6 other people.

[@001sander2]

NDP are socdems like Norway and Norway wealth is one of the best exactly because they didn't sell out to business/privatization.

[@frederickclause2694]

@@001sander2 I won't argue with that. I will add that they invested in developing their resources and invested the proceeds from that reasonably well.

[@epictetus3406]

@@thetruedemocraticnorth who pays the workers when businesses don't make profit or close down?

[@orestpochodaj5926]

How do we get rid of Trudeau already? Canada is crumbling...

[@funkspinna]

Trudeau Must Go

[@tombrown8443]

Well if eastern province ie) Quebec and Ontario stop voting for souche bag it will help

[@Rreka240]

@@tombrown8443exactly. Idk why we even bother if a voted minority can run a country. Like what? In usa, a winner is a winner not a participation trophy

[@001sander2]

Electoral reform but Trudeau cancelled it and Cons are against it too.

[@TheNugler]

Its naive to to think you will vote your way out of this

[@Bleebleeblahblahblah]

As a business owner. Im looking at selling and moving my business.

[@LakeNipissing]

Wise.

[@LateForDinner-mn1hn]

If you sell your business then will the new owner let you move it? Seems like you haven’t thought this through.

[@user-wg2vw3mz1v]

​@@LateForDinner-mn1hn LOL

[@Bleebleeblahblahblah]

@@LateForDinner-mn1hn i will sell my business to another entity i own.

[@Bleebleeblahblahblah]

Sell business to another entity I own.

[@ManicMechanic007]

Plan your personal exit strategy ASAP.

[@photoadventures]

dual citizenship to the uk, will probably move all my money overseas

[@paulmetcalfe3721]

I’ve got Aussie citizenship, my partner has French. We may have work in the Netherlands too. Sad thing to contemplate bc my immediate family is here.

[@leonardoromero8]

My kids will finish university and i am out of here. Its amateur hour with this Government that is learning on the job. Its heart breaking to hear the government speak with no empathy about what Canadians want. There is no future for thr youth in this country. Its freaking sad.

[@user-wg2vw3mz1v]

Amateur hour? They obliterated this country's strength LIKE A BOSS! Their maoist paymasters must be extremely proud of them.

[@winonebud]

Canada is on its last legs.

[@TheKurtVert]

we're already on our knees sadly.

[@trails3597]

Thank God for universal healthcare.

[@courierdude]

We are at least not the USA. 👍🏼🇨🇦🤟🏼

[@smii6180]

@@trails3597where?

[@macbr9]

@@courierdude USA is so much better run when it comes to incentivizing business and productivity.

[@isaiasgarcia]

Look to Argentina to see what's happening to Canada.

[@LakeNipissing]

Maybe Venezuela. Argentina now has Javier Milei, who is polar opposite to Tarface.

[@LateForDinner-mn1hn]

Argentina is what the Conservatives want for Canada. Argentina and other countries that have runaway inflation have a very wealthy elite and an eroded middle class because they don’t tax the rich. President Biden, who has successfully managed to get the USA economy growing is introducing more taxes on the top 1% because the top 1% have benefited the most from the growth in the value of assets. The wealthy cohort benefit when there’s a large middle class that can afford to spend money, Henry Ford had figured it out when he raised his employees wages.

[@jiggycalzone8585]

​@@LateForDinner-mn1hnimagine being this much of an NPC

[@joshg7949]

​@@LateForDinner-mn1hnswitch economic growth to tent city sprawl. Biden has done nothing.

[@barrybrand2970]

We need a leader like Argentina

[@Meeksballs]

If Justin Trudeau was one of your employees you would have fired him years ago! And if you worked for a company that had somebody like Justin Trudeau as a boss you would have resigned with a year!

[@annetoronto5474]

If he was your husband would you… oh never mind 🤣🤣🤣 Job done!

[@LateForDinner-mn1hn]

I’m trying to figure out what jobs all the leaders of the Conservative Party have had, one said that he was an economist but never actually worked as one, another claimed to have been an insurance agent but never was, and the current one seems to have always been working in politics.

[@opsmon]

@@LateForDinner-mn1hn Are you for real? Under Harper we were prospering, looked what happened since his departure and Trudeau took over. Are you a bot or just ignorant?

[@LateForDinner-mn1hn]

@@opsmon Show me the stats because the actual numbers don’t support your argument that Harper actually did anything to help the middle class prosper. The Conservative Party policies have contributed significantly to the erosion of middle class prosperity since Mulroney fell into line with Reagan and Thatcher with their “trickle down” economic policies. The lack of growth of middle class income compared to the growth of CEO compensation is directly a result of conservative philosophy of reducing taxes on the wealthy and cutting spending on services that help the middle class. Prove me wrong with the numbers because I don’t believe rhetoric I only believe facts and math.

[@vikingstrong5772]

​@LateForDinner-mn1hn the curent one use to be a snowboarding instructor. Then became a drama teacher. And now he is a Prime Minister.

[@Diademic111]

their budget has added another $40 billion to our national debt... our annual cost to service the interest on our $1.2 trillion dollar debt is $54 billion!

[@chrisT16161]

But they are giving free contraception to women . Their body, their choices, un less its vaccines. 🤣😂

[@trails3597]

I felt the same when I got my mortgage. The debt/GDP will keep going down like it has for the last 3 years and not inflationary according to the BoC.

[@JB-wr2lx]

More than a billion in interest payments every week and climbing .

[@trails3597]

@@JB-wr2lx not climbing.

[@001sander2]

Coincidentally we spend $50 billion on tax breaks for the ultra wealthy each year.

[@dev4statingx90]

Nice hair and legal weed. That's what Canadians wanted, that's what they got. Congratulations

[@HiddenInPlainSight386]

yup, now they're in their mid 30's and living in their parents tents

[@joshg7949]

I didnt like weed before Trudeau. Now I despise it. Not like he even did a great job on legalizing it in the first place. So many of these weed ops crashed drastically within a year.

[@HiddenInPlainSight386]

@@joshg7949 all just a lure, like every platform from globalist elite. Shiny object, giant hook attached to it for the masses..

[@user-wg2vw3mz1v]

The legalized weed wasn't the problem so much as the other insane crap that came with that package.

[@HiddenInPlainSight386]

@@user-wg2vw3mz1v Mass open door Refugee and immigration probably #1 main factor in the destruction and destabilization of this Country. Then, COV conveniently.."Supply Chain" Massive planned Deficit Money Laundering. Deliberate

[@philipmildenberger2772]

Getting my investments out of Canada

[@epictetus3406]

Same.

[@brennanhandy7770]

I started moving my money to usd weeks ago. Based on monetary policy. This budget is just another reason.

[@AoE2Replays]

So long, have fun in the USA

[@alexpearson8481]

Crabs boiled in water, one escapes and the others pull him back down. Sad. Jealous is one of the 7 sins. I’ve been pulling for 3 years now. Dedollorizing as other countries and central banks would call it. I’ll continue to pull from Canada.

[@FirstLast-ml7yf]

Sorry too late cdn dollar down 3 cents since december

[@red149]

My god! This government is going full crazy !

[@user-wg2vw3mz1v]

What do you mean by "going"? The crazy train has been going full steam ahead for a decade now!

[@gerryhansen8664]

Get ready for a 50 cent dollar

[@dev4statingx90]

Oh it's coming

[@Subotai111]

short the CAD!!!!

[@dev4statingx90]

@@Subotai111 I would like to, but don't know how. I have lots of USD

[@Rreka240]

5cent dollar 😂

[@anthonypapp6349]

It's all ready there. Canadian $ is weak, with not much buying power look at the cost of everything.

[@stevenjohn1470]

How soon can we do a NON CONFIDENCE VOTE??

[@ohcanadaeh]

Not soon enough

[@ianmackie8959]

When pigs fly

[@conq3097]

Jagmeet Singalong has to get his pension first

[@tariqabughofa9730]

8 years ago would've been a good time.

[@Rreka240]

We already tried and failed remember? Jagmeet is the savior

[@freddytang2128]

Saying this tax only impact 0.12% of Canadians, is like suggesting a tax on marriage and say "only 1% of Canadians get married each year". Obviously number of people doing something in a given year, is a small fraction of number of people that'll do it eventually. Now people will be much more hesitant to make investments if they will be hit with a bigger tax bill

[@LateForDinner-mn1hn]

You’d need at least $6 million invested to make $250,000 a year in capital gains if you’re in the stock market, more than that if you’re relying on getting interest from bonds. Most Canadians don’t even earn that amount from a job never mind from investments. Increased taxes on the rich is the best solution to save the middle class from the erosion created by the past decades of reduced services from the conservative agenda of spending cuts to education, healthcare, and other public services.

[@justauser]

It's $0 for corporations and $250,000 for individuals

[@user-wg2vw3mz1v]

There's already a 90% tax on marriage, it's called divorce because she "nuh happi" which gives the woman everything and make the man work like a slave to keep giving her everything while living in a van down by the river on the remaining 10%. I wish I were just joking. Almost no men are stupid enough to get married in this latest generation and good on them for wising up to this blatant scam.

[@nephilimshammer9567]

Whoops you forgot to to check peoples company rrsps and pensions that wholly are over 250k a year 6 million. So guess who gets hit all of us

[@LateForDinner-mn1hn]

@@nephilimshammer9567 I have no clue where you get your numbers from but 90% of Canadians don’t have a $6 million dollar pension fund that provides MORE than $250,000 dividends per year. The tax on dividend income is still going to be the same for $250,000, it’s that next dollar over that the new increase is proposed to be taxed higher. So 25% tax on 50% of $250K is $31,250 and then the new tax on the next amount over $250K, like if your gains were $250,500 would be 25% on 67% of the $500 = $83.75. Add them up and the total tax is $31,333.75. No one who makes a gain of $250,500 in a year is going to go hungry unless they really try harder to spend every penny on stupid stuff. Hopefully you have some clarity on this now since so many media reports do a crappy job of explaining how the numbers work.

[@DanielH874]

Less productivity. More taxes. Bigger deficits. How could this possibly end well? Who would want to invest in Canada or start a business?

[@LateForDinner-mn1hn]

The wealthy 0.1% can afford to pay for the stability of Canada’s economy and the access to the resources that are in demand to export. They won’t starve if they can’t afford to buy another Hermes scarf or Louis Vuitton bag.

[@larrybethune3909]

I'm told, from a very reputable source, the budget will balance itself (in the year 2525).

[@dotund1129]

It seems counter-intuitive for a govt that is committed to bringing in over half a million migrants every year, to be taking steps that drive up interest rates & prompts existing investors to move their capital elsewhere

[@LateForDinner-mn1hn]

Canada is a wealthy nation because of its natural resources. Things like lumber, nickel, potash, oil, etc can’t be picked up and stashed in a Caribbean island bank. And resources can’t be extracted by remote workers, not yet anyway. The immigration policy won’t really change under another party because population growth through births can’t support the lopsided demographics, unless you are advocating for somehow reducing the bulk of the senior population or requiring people to work until death. Returning to a higher tax policy like Canada had in the 1950’s and 60’s would save the middle class and create more GDP growth in the following years.

[@dotund1129]

I fail to see how adopting a higher tax policy will save the middle class, who would be on the receiving end of increased taxation...experiencing job losses & declining disposable income. My point is a govt that is actively importing labour should also be actively improving productivity and attracting job creators

[@mushypork2132]

@@dotund1129 Exactly, there is no need to have more people if we don't have more industries employing them and fake government jobs do not count. Canada has too much regulation and too much taxation, and this is counterproductive for small and medium businesses to grow. Look at places where the government simplified regulation framework and kept only minimum taxes, their economies boomed instantly, and as a result they actually collected more taxes later on, not to mention how much the quality of life improved in those places.

[@LateForDinner-mn1hn]

@@dotund1129 Obviously you haven’t read the details that the tax increases are on income well into the category of the top 10% of Canadians. Freaking out about an increase that affects people who are have assets in the double and triple digit millions after the wealthiest have been increasing their wealth by double digit percentages in the past decades is astonishing. But maybe you’re a multimillionaire who just wants more because more is more?

[@dotund1129]

​​@@LateForDinner-mn1hnLol, you are obviously struggling to connect the dots. The wealthiest 10% mitigate targeted tax increases by moving their capital out of the country or simply avoiding transactions that make them realize capital gains. The knock-on effect is a shrinking economy as there will be less capital for businesses & diminished tax revenue due to slower asset trading. When businesses scale back due to capital starvation, who ends up unemployed & foreclosured on? Definitely not the richest 10% France introduced a similar wealth tax in the late 80s, read up to know what the outcome was...

[@davidwright4271]

Non confidence emergency vote is needed. This country is becoming more socialist by the month.

[@dinovacca578]

How about going after the people that have No interest in working.

[@wishteria234]

💯💯💯

[@TheVampB]

Why? Are they gaining money they can't even spend in their life-time from other people's work like the billionaires are?

[@dinovacca578]

@@TheVampB your thinking is the problem with this country. You are the type of people that are a cancer for enabling people who have no interest in contributing to society. It's obvious from your comments you contribute nothing to productivity.

[@albundy9706]

The government does go after them. And puts them on their payroll

[@Kelssinho]

That's what they are doing, they're going after money that doesn't require work. :)

[@ImNotNormall]

Canada is cooked.

[@AoE2Replays]

I bet you're an expert

[@ChrisMCP2]

Message is clear, the business will not tolerate this. Back off or else.

[@denniss8048]

Poilievre will have to make dramatic cuts to government taxes and services when he's elected. Retirement age will have to be hiked to 70! if Canada will ever recover from this Trudeau disaster..

[@markrichards7377]

It’s not just foreign investors. The capital gains increases hit lower amounts that could easily hit small businesses that are selling after years of growing. Owner managers who go decades without vacation will get slapped with higher taxes when selling for no bloody reason other than this government can’t stop itself from spending. It’s disgusting.

[@justauser]

LITERALLY. I feel for the owner operators who sacrificed everything.... Just to have 16% less for retirement. Meanwhile people who don't work are living high on the hog and laughing at people who chose to do the right thing. It's so sad

[@marshferguson4737]

A two million dollar business isnt going to have many jobs

[@marmantole]

It’s going to have some and that 2 million dollar business can grow to 20 million

[@Rreka240]

My father runs one and employs over 20 people. It really depends the industry

[@LTADI]

There won't even be enough to fund their pensions

[@thumpinjumpin]

Justin Trudeau and his cronies have got to go!

[@TheVampB]

I don't feel the arguments here. Venture capitalists live on much much larger returns than what capital gain tax can make a dink on. Only the Canadian startups that have easy access to U.S. market have good chance of getting funded that way, that's why the 8-35 investment ratio gap. Most small businesses still have to fund themselves through loans, don't they? And I can tell you straight that for the small business owners that I know, housing and labour costs are still their biggest expenditures.

[@anirudh0000]

Wrong. We use our saved up money to start and then look for angel / venture funding. It’s non existent in Canada

[@LateForDinner-mn1hn]

@@anirudh0000What you are saying is that even now with a low taxation of capital gains that venture capital is nonexistent so then that means that higher capital gains taxes won’t affect something that doesn’t exist. But what if the capital gains are made on foreign companies, then the taxes would just be a transfer of wealth from abroad. Seems like a good idea for Canadians since other foreign countries have been getting wealth transferred from Canada for decades.

[@VinegarMoneyGrows]

Reminder that Capital gains tax inclusion used to be 75% back in 2000s. The 50% capital gains party wasn't gonna last forever.

[@jptrainor]

Yeas. It 75%, then dropped to 66%, then dropped again to 50% in 2000. And it's been 50% until now.

[@bobwinters5572]

All this proposed change does is make interest and dividends more valuable. It increases the value of cash flow relative to cashing out. It might well calm asset price inflation and encourage investors to put money into assets that produce income (ie. productivity enhancing assets and bonds) rather than assets that inflate constantly based on speculation. It's an excellent idea, but 2/3rds may not be enough of a tax increase to bring capital gains taxes sufficiently into line with taxes on other income.

[@dwaynemills7862]

Alberta will weather the storm, we always do.

[@LakeNipissing]

After WEXIT. Alberta and Saskatchewan have all the resources the world needs that Tarface Turdeau has roadblocked.

[@CORKO77]

Both guests are bashing the government policy and it's left to the reporter to prop up the policy's of the government.....sounds like propaganda that not guests or any other canadian wants to hear.

[@acimo4766]

Businesses will abandon ship that means less taxation

[@Ittybittykittyclub]

Does the new capital gains threshold exemption include generational transfer of farms?

[@joshdoddadbod]

Let's hope not!

[@wishteria234]

A person can work their whole life to pay for a cottage and now they have to pay more a whack of tax on its sale, that is disgraceful.

[@Kassiaterabbitslayer]

I filed my taxes and it the capital gains tax already was going take a additional 100$ for filing. Cause I dare invest in this country. It increasing is really making me question if it worth it

[@TheBodrey]

Big Business doesn't pay anywhere near their fair share of taxes because of a myriad of loopholes in the system that need to be closed yesterday. The Canadian government has always been addicted to taxation, so I'm kind of surprised that they didn't make this a priority years ago. In any event, forcing corporations to pay more tax will only serve to discourage new businesses from opening here, and may even compel others already here to leave for more tax-friendly jurisdictions. If the government could tame its out-of-control spending (and instead find efficiencies) there wouldn't be a need for such high levels of taxation that are destroying Canadians' standard of living. Of course, they prefer to take the easy/lazy way out and just stick it to us by raising taxes ever more. The cost of living in this country is BRUTAL as a result; it's disgusting. Why aren't the Liberals being called out by anyone for all of this profligate spending? There's ZERO accountability or transparency for how our tax dollars are being spent.

[@rickhayes-oh2zm]

interest rates are going higher. Macklem is not putting the genie back in the bottle. He is loose. Canadians are still spending.

[@ericyuan9718]

LOL the Canadian consumer is not spending enough, just ask the inflation rate. Worst case scenario is more wait and see, rates will not increase.

[@albundy9706]

@@ericyuan9718 You believe the CPI is accurate? Lamao

[@ericyuan9718]

@@albundy9706 No, but inflation has been trending down. The trend is right, the number not so much.

[@swyllie30]

I retired early as I was sick of paying taxes to this government.

[@LateForDinner-mn1hn]

Then you aren’t going to be affected by this policy change, are you?

[@1meetup]

This will also affect many to-be-retireees who plan to sell their second home. This is not really about the top wealthiest

[@user-kd9dy6yv2s]

Here's a question I invested my money in the penny stock that's very bullish so what happens if I make a couple million off capital gains and refuse to pay it you know I go on a run like Charlie Sheen and spend it all then quit my job and become homeless live with a friend and have no assets what would happen 10 million dollars worth of stocks I'm not giving the government 50% of it f that I'd rather spend it like Charlie Sheen and have fun and then just own nothing for the rest of my life and hell if I get to retire in a jail that's fine free food free bed to sleep. Don't tell me prison food is crap there are starving Africans that give their lives to have the Canadian ship prison food. So once again what would happen if I make 10 million on stocks and then I spend it all

[@stevenjohn1470]

The new programs shouldnonly be introduced to use surplus. Canada is goimg deeper in debt. The budget won't balance itself. They aren't even trying

[@trails3597]

Debt/GDP will keep going down as it has for the last 3 years. Countries w a low ratio: Brunei 3.2%, Afghanistan 7.8%, Kuwait 11.5%, Democratic Republic of Congo 15.2%, Eswatini 15.5%, Palestine 16.4%, Russia 17.8%. Would you rather go there or let Pierre send us there?

[@angus3963]

​@@trails3597Palestine is a country now? It shouldn't even qualify if it's balance sheet contains a line item for "Pay to Slay" costs the PA $303m annually. Smh

[@LateForDinner-mn1hn]

Government can print money, they are the only organization that can. Governments also borrow money from the wealthy and the wealthy like to lend money to Canada because it’s a stable country with lots of resources to back up the currency. If you are thinking that a government is like a person who has a limited lifespan and only about 40 years to create income then you’re wrong, and governments aren’t businesses either. The system of capitalism uses debt to create wealth from extraction of resources and Canada has a lot of natural resources that are in demand to export. But Canada won’t stay a wealthy country if there’s a smaller middle class and more wealth inequality.

[@stevenjohn1470]

@LateForDinner-mn1hn that's a really nice thought. I agree with the middle class needs to be strong but I can't understand how this government has done anything positive for the middle class? We are taking a middle class and through inflation and taxes need to be an executive to own a home and have a family. A candian middle class used to be defined as a house that could be paid off in 5-20 years a car, and kids and work that made somthing Now the middle class is renting, trying to get money from the government to pay to drive to a job that produces nothing.

[@stevenjohn1470]

@trails3597 I've actually been to some of those countries 😅. But yeah Denmark 29.8%, Australia 22%, Solomon Islands is beautiful at 0% Sweden at 32%. Yes please. I'll vote conservative for canada to be awesome again. Afghanistan wasn't even that bad when you consider the culture and resources. Maybe we could get the libs to ask for some help.. or wait and Russia will sort us out . China is even better at 77% or Brazil at 72% Justin's goes to jamacia at 86% to get away from his mess.

[@maxbork4087]

The new capital gains tax hike won’t work as claimed, but will harm the economy as the economic costs exceed the amount of tax collected! Capital gains taxes are not paid exclusively, or even largely by ultra-high-income earners. Rather, Canadians with much lower levels of income, including many entrepreneurs and small business owners cashing out after a lifetime of work pay the majority of capital gains taxes in Canada. Therefore, any increase to the capital gains tax will affect Canadians across a variety of income levels, not simply the rich, as is claimed by Trudeau/Freeland.

[@angus3963]

This has never worked for Canada and pushed innovation and companies out of Canada. Rich and wealthy are dirty words in Canada. Smh BoC kept the overnight rate at 5% and was hoping to see a softening of inflation and didn't, CPI up m/m and y/y, rates won't change drastically and Canada has to get used to more historically consistent rates, ultra low rates were also a reactionary rate to drive growth.

[@ricksilver55]

ANYONE WITH A BRAIN WOULD GET OUT AND TAKE THEIR MONEY AND INVESTMENTS WITH THEM. VERY SAD

[@SSMLivingPictures]

Done and done. I shifted all my investments to the States. I wont touch Canada until this gov is gone

[@ricksilver55]

@@SSMLivingPictures So sad man but smart move!

[@mr2_mike]

​@@SSMLivingPicturesNorbert Gambit it up! Peace out.

[@SSMLivingPictures]

@@mr2_mike Googling it now hahah

[@ravitej2010]

With increase in taxes, Why would a young entrepreneur want to start a business in Canada rather down south with less taxes ?

[@nephilimshammer9567]

How does this fix housing costs? Or wage? Or inflation?

[@raymondgagne8363]

The higher tax on capital gains will definitely negatively impact housing, less individuals and companies investing in housing.

[@xGroteskx]

Last minute was literally the nail on the head. Described the liberalnpd coalition government perfectly.

[@musicmusic6788]

Agenda 2030 eh

[@calm9447]

My son graduated college but nobody is hiring. The once great Ontario is crumbling.

[@RicAr-ml8nu]

Best way to counter this is to reduce small and medium business taxes to 3% right accross Canada.

[@gabecastellanos3393]

Nearly half that deficit would be covered by the 16 Billion in CERB that the CRA say they won't be able to recover. Freeland spent 2 billion on a company that doesn't exist and another quarter billion on the Arrivecan which I believe could of been developed for less than 6 figures.

[@Flora7-Lan]

Prime Minister Trudeau has helped Companies and small businesses with$ 82 billion wage subsidy and $25 billion interest free loans and $40 billion cash flow needs... He shrinked the deficit by 84 %between 2020 and 2022.

[@Greg-bu7mi]

Those guys were honest despite the interviewers inept attempt to spin the topic into "good news and optimism". She was not effective at this at all and was really defenceless against the truth.

[@peterschroeder6665]

Tax on capital is crazy. Leads to less investment less wealth less jobs. Capital is like water it goes to the best location. Investing in canada is insane. Pick anywhere else.

[@chion918]

Young and skilled Canadian should and need to leave Canada as soon as possible. It is ridiculous to have to live thru slavery in Canada, while spending 3 hrs every day on commute and more than half a year in cold.

[@beautanner8409]

This isn't really the most offensive thing about this budget. It's not necessarily this fraction of the 1% that is responsible for the bulk of Canadian entrepreneurial energy.

[@normkeller6599]

Board rooms? Think about your pensions! This will be a disaster for pensions.

[@sinanlecun4389]

its time to care about low income "Canadians" , not "investers" and their representatives in the media.

[@sailingfabule1805]

We need less government, not more.

[@Flora7-Lan]

Prime Minister Trudeau is winning. Canada has the lowest tax rate in the G7 countries in Covid-19 pandemic. Canada has the 5 budgetary surpluses since 2016. Canada has the AAA Credit rating 2023, only two countries have the AAA Credit rating 2023.

[@maryjoan4128]

They have destroyed Canadian Economic Development,, Our ability to be energy self reliant, and our reputation on the world stage,,,, we will all suffer

[@kamenidriss]

Gosh...as Canadians, is there any reason for investing in Canada at all? Look if you're close to/at retirement, I guess it makes sense because of dividend play....but as someone younger, we're not getting any growth prospect at all before this budget was even tabled.

[@LateForDinner-mn1hn]

Are you making over $250,000 in capital gains every year? It’s only the next dollar over $250,000 that is going to be taxed higher. If you’re making that much money, then it’s doubtful that you’re going to worry about paying rent or buying groceries.

[@shojingod]

Taxes have never been a factor for employment numbers in history. They say this every time a tax goes up. Higher capital gain also would put stock buy backs on a questionable road. Many companies make money through layoffs to buy back stock to pad the stock. Who makes money on the stock are the highest share holders the people doing the buy backs. Company hires stock goes down, people sell. The board buy stock, layoff worker. Stock soars. The board sells part of their stock. Repeat. Now if these people are going to get dinged in this process well they will be less willing to play this game. Less buy back = less layoff's = more stable employment environment= more economic stability.

[@abdablelow6031]

the audio seems off on this video...

[@Saint.Moogle]

Yikes. Less taxes less programs please.

[@Givemeafinname]

there should be no "capital gains" tax...

[@AoE2Replays]

Are you fucking insane:? Do you understand with that statement you're licking the hairy balls of big business and government?

[@Flora7-Lan]

Prime Minister Trudeau is winning. Canada has been the 1st best businesses environment since 2017 to 2023 and now. Canada has been the 2nd best country brand to invest.

[@Icecold0505]

They would have been better off raising GST on our already inflated consumer goods to 7% again.

[@dereks3029]

They now want to gamble our CPP contributions on Canadian non existent businesses. What a joke. Bye bye CPP

[@MassivePaper]

Another day, another kick to canadians. I wish our govt would make thr hard choice and stop spending.

[@JDS11ify]

Cut to the chase ... centralized government is inefficient and removes personel freedoms, as well as removing capital investment and growth.

[@venusevans5807]

and decentralized governments are better? have you seen what happens in the states at the local level, every other week their granting fetuses person hood, militarizing the police and attacking the LGBT community. How does that promote personal freedom? socialist governments actively reinvest your tax money in public programs created for you. to meet your basic needs. I understand Canada hasn't don't that efficiently at the federal or provincial level but decentralization wouldn't solve any of this!

[@718roadtopeace]

More investors and businesses will move down south! This is a disaster!

[@angelasoWA]

Canada needs to allow for more competition to increase productivity.

[@gurecke]

If they want pension funds to invest in canada, make canada look like a good investment. Forcing this is admiting failure in doing so.

[@larrybethune3909]

We are literally a second world country on our way down the global financial tubes. Dang!

[@trails3597]

The increase is for capital gain income over $250k in a year for an individual. Mostly top executives with stock options are affected. Employees/professionals who get stock options can salt it away in TFSAs and RRSP. Most big winners keep their money in their company to grow it.

[@ohcanadaeh]

All those investors in rental properties and had bought it a few years ago will be impacted if they sell it after June this year.

[@trails3597]

@@ohcanadaeh If they have that much equity they will leverage it to buy more property. Those who have to sell b/c of mtg interest have a capital loss. Most are mortgaged to 80% to start with.

[@hentaicrypto]

Yeah and you think they will keep it that way? 🤣😂 Next is taxes on unrealized gains for the middle class buddy.

[@trails3597]

@@hentaicrypto Cons love to fear monger. Canada has lower taxes than the US.

[@mr2_mike]

​@@ohcanadaehAnd to think they'll actually report it to CRA. 😂 Laundered!

[@Doug-tc2px]

K shaped recovery, those with means do well in these times while the majority get left behind. I find it hard to shred a tear for the ones who benefit most from inflation of their assets.

[@martinfriesen2247]

If government created the environment where pension funds could make good returns on domestic investments, then I'm sure they would.

[@barrybrand2970]

THERE SHOULD BE ZERO CAPITAL GAINS ON ANYONE WHO INVESTS IN CANADIAN CORPORATIONS PERIOD, ENCOURAGE CANADIANS TO CHANGE FROM INVESTING IN DOPE AND BEER TO CANADIAN STOCKS, THESE SOCIALISTS IN GOVERNMENT ARE IDIOTS!!!

[@Yotaciv]

Lets all keep praying for an early election that brings about a fiscally conservative government that unburdens Canadians and invests in growing them. 📿

[@canadianrepublican1185]

The reason for the Capital Gains increase it to stop housing speculation.

[@tombrown8443]

Its a dumb way to address housing speculation. If you believe what they say you are a fool. If they want to tackle housing spec. they should go after airbnb etc. not allow write offs.

[@canadianrepublican1185]

@@tombrown8443 I agree, but that's why they did that. It's less for the regular person, and more for the big corps. Corps / Investment Companies buy real estate simple because for along time there was no decent place to park money. They had a choice of US Bonds paying 0 to 1 % , or other less safe bonds at hire rates. This is also why the stock market went up so much. As the uncertainty of US Debt grows, alternative assets will go up in price. This is also why foreigners bought real estate in Canada. I would rather simply ban investment companies or corps from owning single family units like the Swiss do.

[@john_doe_not_found]

The trouble is, the programs being put forward are bloat. They are not needed. School lunches? This is a waste of money. Yes some small percent of parents are too poor to feed their kids properly, but we already have programs to cover that. Pharma care.. i am actually for this. Allowing the government to do bulk purchases will bring down the cost of drugs. Like police and fire, some services are actually better in the hands of government than private enterprise.

[@TemujinBC]

"The social contract of this company is important..." Lol no 😂

[@katiemclean9089]

The old saying YOU NEVER GO TO A POOR MAN TO GET A JOB is so true in so many ways . Other countries have tried and failed . C A McLean

[@CountryWilly]

So what did this budget do about the price of food, jobs ? It did nothing about the majority of people that keep this country going. Oh you can turn in your tent you sleep in because they are building houses

[@dylansmith6078]

Id be fine with these high taxes if the money would litterally go to the infrastructure of our cities and the people but it goes to ukrain and isreal as a charity. Canada has become 1 big charity organization that cares about all other misfortunes except the tent cities it currently holds. Tragic

[@Redlinesixtynine]

They are sending a signal to NOT try and be successful in business in Canada. Plain and simple. How the ndp can continue to support this group of inept grifters, is pathetic.

[@ZenCorvus]

Freeland defines words beyond inept and incompetent.

[@JohnSmith-kw6io]

Exemplifies*

[@johnhess9443]

Canada has been gone for a while now.

[@snowy7236]

certain nations do not pay any taxes in Canada, and I believe it is a good time to change that.

[@rickhayes-oh2zm]

I risk my money to make money on hard work picking stocks. And the govt. who doesn't take any risk steals 50% of my gains. Passport ready.

[@jamesj2212]

Judging by your comment, Im guessing you've never had any investments. They aren't taking 50%. The 50% on capital gains is actually preferential tax treatment. whereby an investor is only taxed on half the gains, unlike employment income, which is taxed at 100%... So if you made 100k in capital gains, you'd pay tax on 50K and 50k would be tax free. Also unlike employment income, you can carry losses forward indefinitely to offset gains and back 3 tax years. As an employee, if you work a ton of OT one year, and were laid off the year before, you can't move the excess earnings back for preferential tax treatment.

[@MeanStreamFraudCast]

Oh boy 😂

[@jptrainor]

It used to be 75%, then 66%, then dropped to 50% in the year 2000. Thus change isn't going to affect the vast majority of individual investors. They just don't realize that much capital gain in a year, or they are working in a registered account so this doesn't apply. P.s. and it's the taxable income inclusion rate, not the tax rate.

[@Hilts931]

Last one out turn the light off please.

[@cogekacc]

its only going to get worse lol. Sorry fellow canadians

[@isaiahsmith8523]

He lost me at "businesses want to pay their fair share of taxes ".....

[@jeffrey1411]

They pay what they think is fair, which is as little as possible 😜

[@BroNapartay]

Business's don't "pay taxes", as they don't exist, however, they do "collect taxes" from the end user, to give towards the government. They simply act as an intermediate... it is you, the consumer of their product, that is the legal tax payer and foots the bill.

[@watercycles9584]

It is not the job of the federal government to pay for housing. Justin himself said it. If Justin dropped taxes more houses would be built.

[@Zodtheimmortal]

It sounds awful for those that own secondary/rental /cottage properties. It was already bad when people die, now it sounds like they will get much more harshly taxed. I'm sure that many many Canadians has a family cottage or secondary property where the gain will be more than $250k after the death of the owner.

[@reedman420]

Oh lord

[@alwaysthinking2175]

lol at 9:30, canadian pension funds manage money for regular people. and if they don't see returns, these regular people will suffer.