Canada to increase capital gains tax on firms, individuals: panel reacts to 2024 Federal budget

Lisa Raitt, vice-chair of global investment banking at CIBC Capital Markets and former deputy leader of the Conservative Party, and Mark McQueen, founder of Wellington Growth Partners, join BNN Bloomberg for breaking reaction to the Canadian Federal 2024 budget.
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[@FewNewReasonss]

Be nice to see Trudeau out of office. Whole country is waiting for it

[@justinaldrich1719]

What's that gonna do. Bring someone in that only wants to REDUCE the TAXATION. Yup AXE means to SPLICE or to REDUCE not IMBOLISH. It's all a game period.

[@miltonbates6425]

​@@justinaldrich1719 Instead of increasing taxes, which only hurts the most productive people in society (the middle class), the government should be investing in job creation, and job skills education, and removing unnecessary regulations on our industries.

[@ricksilver55]

yup

[@pumpkineater_69557]

@@justinaldrich1719maybe it’s your name.

[@wadeross6311]

@@justinaldrich1719what that will do is get a government in power that is competent! The NDP/Liberals are disastrous for Canada.

[@HilarityBribo]

Trudeau has to go...

[@campsitez2355]

the NDP has to be pulled from power, this is the NDP doing this.

[@bogdan111000]

The most incompetent failed actor.

[@freedomlife3623]

It’s laughable to think PP will do better. What policy had he proposed to improve our economy?

[@paulaoyedele2081]

​@@freedomlife3623..... so are you actually believing PP will make matters worse than the Trudeau/Freeland and gang? At this point in Canada, we have no other reasonable or viable options. Basically, a rock/paper/scissors game for Canada's future.

[@lornemyers6638]

​@freedomlife3623 What is laughable is you deflecting. Your decisions to vote Liberal is selfish and you shouldn't be laughing, you should be shamed.

[@Lisa-vk2jw]

We need an election now!!

[@frankhardy4969]

Absa Fking Lutely!

[@cosmoray9750]

It doesn't matter who is in the office. The only thing the Canadian government is good at is raising taxes. That is why people who can afford to leave are leaving.......

[@ruperte-du5zr]

That will depend on the NDP voters.

[@genegu888]

It sucks we're held hostage until 2025 to vote these fools out smdh.

[@Lululululee]

just wait until the Conservatives lose their advantage for going full "anti-woke".

[@tatianastarcic]

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.

[@CraigLloyd-fz6ns]

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.

[@EddyAgnes-vy4kp]

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.

[@blk123]

When a farmer sells his farm which is his retirement fund, he will pay capital gains. Why would anyone invest in Canada?

[@user-ig1kv2qx7z]

Farmers get over 1 million dollars in capital gains exemption

[@krisvin7761]

One more reason not to invest in Canada, Trudeau is not worth it

[@Heartadia]

but the investments aren't doing anything for canadians. so is it really helping?

[@ohsnap6506]

@@Heartadia brother, private investors do build things around the country, corporations do build things as much as they are greedy.

[@Heartadia]

@@ohsnap6506 what do the build? canadian production is the lowest in the G7.

[@fycfyc1]

@@Heartadia who are you going to work for if all the businesses pull out of your country lol, who will the government collect taxes from.... low investment directly causes stagnant GDP growth and that's exactly what Canada is having

[@freedomlife3623]

@@fycfyc1 don’t be so hyperbolic, calm down.

[@samg8012]

Investment has been leaving Canada in record numbers in the past 8 years. Investment will now be fleeing in droves. We are so screwed.

[@candybonhomme5915]

Say goodbye to investors in Canada

[@FloydRunner2049]

The monopolies don’t care, if they have to squeeze the profit from somewhere else they will no prob

[@ricksilver55]

DISGRACEFUL

[@user-fu6vx6bk5z]

My parents are 90, they live in a house in which the second floor is a rental. They will see the Capital gains inclusion rate increase to 66% on the amount exceeding $250 k. Shame on Trudeau and Freeland, and on diaper head for propping them.

[@dslboiz]

That’s a shame . I’m sorry to hear that .

[@erikholmes6488]

Only if they claimed capital cost on the property. If they only claimed income then the entire property is exempt.

[@dslboiz]

@@erikholmes6488 what do u mean

[@MJ-cg8vp]

@@erikholmes6488not true at all. Only a portion of the house would be qualified as primary residence tax exemption

[@erikholmes6488]

It is the CRA’s practice to consider that the entire property retains its nature as a principal residence, where all of the following conditions are met: the income-producing use is ancillary to the main use of the property as a residence; there is no structural change to the property; and no CCA is claimed on the property. It’s clear that claiming Capital Cost Allowance on a rental suite is a bad idea for this reason and is thus almost never done. But what of the other two requirements? What exactly does ancillary mean and what modifications to your house are considered structural? We have discussed these issues on this blog many times but I’ve never been able to reconcile the language which seems to clearly indicate that most suites would jeopardise the PRE with the reality that no one seems to be paying capital gains on the sale of homes with suites.

[@danboden9873]

Two days ago Freeland was swearing she had no more taxes on the middle class with her so called budget.

[@ricksilver55]

THEY ARE LIYING RIGHT TO OUR FACES THEY THINK WE ALL STUPID

[@05350]

Who is the bigger liar, Trudeau or Freeland?

[@freedomlife3623]

Is over million in capital gain consider middle class? Did you really studied the new budget or just a PP mouth?

[@FewNewReasonss]

​@@ricksilver55They "know" most Canadians are stupid.

[@pattygreen8064]

@@freedomlife3623 a million dollars doesn't go very far in today's Canada. its also another inheritance tax for anyone fortunate enough to have parents who owned a house or who managed to put away enough savings to leave something behind. but even worse than all of that its another blow to employment as many companies will choose to invest elsewhere. spend less tax less the government needs to learn to govern their own wasteful spending not tax the already struggling people. of course they don't care JT was worth a couple million when he took office now he is worth around a hundred. nothing fishy there at all.

[@CP-vm1sb]

This budget sends a warning to international investors. The message: we have no idea what we’re doing, we cannot control our spending , we are flying by the seat of our pants. While our paid- off media tried to say it was a good budget, most professionals and investors will not like it.

[@Flowing_Waters]

End the corruption in Canada.

[@shivali-03]

Im gonna remove all my investments and move somewhere else!!

[@lominiski]

Haha. The government does not understand tech nor math. Leaving Canada.

[@davidlepoidevin4239]

If Trudeau wins I am gone in 2025

[@dev4statingx90]

No point in working in Canada, no point in investing in Canada. If they win again, I'm gone. Fortunately I have the means to do so.

[@user-ot6hu4gr2v]

Where we going? I think the boat will be loaded

[@dev4statingx90]

@@user-ot6hu4gr2v some where in central/south america or south east Asia

[@sarahh8596]

Good for you.

[@Efectivtrailer2]

​@sarahh8596 it is it's fantastic for him to escape this socialist country Il be on said boat too

[@ericyuan9718]

You should leave now, get first dibs on lifejackets on the Titanic.

[@phil-l]

taxing more over the 250 000$ capital gain IS taxing the middle class!!!

[@getterrdone7773]

Who the hell want to risk everything to build a business to have a government steal your profit???

[@dev4statingx90]

Sounds exactly like communism fella lol

[@BnMProductions11]

People who want to live in a society that actually functions and not an anarcho capitalist dystopia

[@Sebastian-wz1wh]

​@BnMProductions11 this country is more in early stage socalism than late stage capitalism...... what kind of capitalist country taxes people at almost 50%

[@BnMProductions11]

@@Sebastian-wz1wh The US. This is nowhere near socialism. Canada wouldn't even be considered democratic socialism. Is a socialized capitalist society with backsliding social systems. Fiscal policy has been getting more conservative the last 40 years not socialist. I do agree Trudeau needs to go, but the PCs are not the answer.

[@dev4statingx90]

@@Sebastian-wz1wh a loser country with no real economy

[@fillmorehillmore8239]

Government drops the ball over and over.

[@markanthony3275]

I never blame the government...I blame the stupid people who voted Liberal last election...oh...and the pot heads...because without their vote in 2015, Trudeau would never have been elected. So now they can sit beside a dumpster, smoke all the dope they want, and not get arrested. Funny...they say pot never harms anyone...and look , a whole nation is being destroyed because of it. That's just one more unintended consequence of legalizing something that's bad for you and bad for your society. P.M. Stephen Harper had it right when he said "Pot is illegal because it's bad for you."

[@gameburn178]

Depends on the government, depends on the ball. Trudeau is doing things from day to day, not enough long-term planning. Look at Japan, look at some of the rich European countries: governments can be great, helpful even.

[@Bn-fd9kp]

Trudeau is still staring at the ball wondering what it is.

[@ricksilver55]

THIS COUNTRY IS A JOKE

[@9avedon]

Communism is not a joke. You will own nothing and be happy ! Justin is a commie , just the same as his father.

[@toddlavigne6441]

It is . The other day I drove on 3 mile stretch of road that was re-paved. It didn't need it. It was in excellent shape before. If a gov't on any level can waste money like this, what are they doing on a larger scale. A city that cannot fill potholes is a city run by fools. As simple of an example like this says it all

[@ricksilver55]

@@toddlavigne6441 AGREED BROTHER GOD BLESS

[@user-ig1kv2qx7z]

You're a joke

[@ricksilver55]

WE NEED AN ELECTION NOWWW

[@nfoleg]

Every single dollar of this tax will be paid by an average Canadian Joe.

[@BnMProductions11]

Yes, because the average Canadian Joe regularly sees 1M plus of capital gains in a year.

[@kalenveitch5584]

​@@BnMProductions11 Oh dear, I don't think you grasp the concept of side effects. Look throughout all of history. Heck even look in works of fiction. When governments continue increasing taxes profitability decreases. Individuals get poorer and more dependent on government and the wealthy get richer. Trudeau has made tens of millions "taxing the rich to feed the poor," yet poverty, food insecurity and homelessness are all spiking. In 2024 the problem is increased because global travel, shipping, and outsourcing are so easy. Wealthy companies can leave. Small ones stay.

[@Garl_Vinland]

I Mae less than 20k a year. Thank you for helping me “average Canadian Joe”

[@angus3963]

​@@BnMProductions11trickle down is how they'll pay.. 🤦‍♂️ Wake up and smell the failure that is this government! Anyone with capital gains at stake will hedge the costs somewhere else, and that will effect middle/lower income Canadians. And for what, to drive innovation into AI or other areas in Canada, not after this budget.

[@canadianmountainman]

Yep

[@fh3275]

Canada is struggling very bad to attract investments and create an environment for innovation. This proposed tax increase is equivalent to bullet in the head. I am an economist and I'm afraid that someone as Ms Freeland who has an extremely poor understanding of how an economy works is in charge of Canada's finances.

[@TDK2K]

Dumbest decision ever. No point investing in Canada.

[@freedomlife3623]

Do you make over million or more/ year in capital gain?

[@TDK2K]

@@freedomlife3623 that's the dumbest rebuttal to ask. It is the wealthier people that do the bulk of investing in Canada and anywhere. If you put up even more barriers and taxes for them to make money why would they even put a dollar into Canada? Big money doesn't invest in Canada as it is. This will discourage them further. Canada before this was already not business and investor friendly at all. The country will continue going to shit.

[@WilliamMurphy-vu8rk]

@@TDK2K well said and true

[@Paulin-pw5jx]

@@freedomlife3623the ones paying for all the fancy toys and services the government keeps giving is the investors not the people struggling to pay rent ….

[@ruperte-du5zr]

When Trump comes back next year, there should be a lot of changes. When Pierre takes over a year later, there's a big mess in Canada waiting for him.

[@sarahh8596]

I worked in dental in ontario all refugees get EVERYTHING COVERED thousands for one family spent

[@user-oz6pt9yx1u]

I live in western Canada and it’s literally taxation without representation. And the entire west is tired of it

[@antoxa.310]

This is horrific, we already have a huge retirement problem in this country and now trudo is stealing even more of our retirement savings!

[@campsitez2355]

if the NDP had their way all capital gains would be 100% taxable and the tax free savings accounts would be removed completely as per the request of the late Jack Layton. I still don't know why people thought he was a great leader. Maybe in the same way Stalin or Lenin were? commies.

[@damonin]

you make more than 250k? dang son

[@antoxa.310]

@@damonin That's capital gains threshold which is nothing for a retirement portfolio. If your retirement portfolio is less than $250k you will basically be living on welfare in your golden years...

[@jptrainor]

​@@antoxa.310The increase is on annual capital gains in excess of 250k. It's unrelated to the size of the portfolio. Very few individuals will hit that in one year. Even someone with a large retirement portfolio.

[@damonin]

How are your retirement savings being effected?

[@ulisg6040]

RIP Canada...

[@archie_bunker]

agreed. this country is done

[@Hellya38]

financial minister gets new shoes while everyone goes barefoot

[@september3590]

With unrestricted acceptance of foreign immigrants, has there been a detailed investigation into the actual contribution of these immigrants to the country? Or are they just here to support the elderly, speculate in real estate, and enjoy the country's various welfare benefits, which increases the financial burden on the national treasury.

[@DirtyDog995]

Your answer can be found on.... a blank sheet of paper

[@gskv3331]

Canada: take 100% of the risk to give away 67% of your profits.

[@soleikam6662]

and to who!

[@gargalash9191]

you are taxed on 67% of the gain not 67% tax

[@tonyfulford3175]

FJT

[@campsitez2355]

this is NDP agenda, the NDP are quoted saying that a 100% taxable capital gains regime would fund their national dental care program. There needs to be an election now before the NDP can be allowed to do more and more damage.

[@05350]

That means much less chance NDP will trigger an election.

[@dailydrivenmuscle.]

Yes...let's steal from hard working people. FJT

[@kene9632]

Hard working people lol these folks prolly don’t even work and live off the their investments

[@businessmike2371]

over the past few months am actually frightened about the direction now....not one piece of hope.

[@Edu-hx9sz]

As an advisor, I wrote to all investors yesterday to sell all assets in Canada. Better to invest in a capitalist country.

[@TheRickRoller1]

Imagine risking your money investing in a company, working hard and making it a success and then sell it... only to see the government tax you out of your profits.

[@HypocriticYT]

Canadians that can are leaving 😮

[@jacobgazzellone8938]

Someone's gotta pay for the out of control spending I guess..

[@campsitez2355]

the NDP won't stop any spending because after it destroys the country if the country is still dumb enough to elect the NDP then there will cease to be elections and we are seeing the "event horizon" of that with Bill C-63 being able to put tracking bracelets on the political opposition without the ability of the party being subject to it having any legal representation or being present for the hearing that determines they have to wear a tracker... and in more extreme circumstances throw someone in prison for life without a trial. It's all there and the NDP can't wait to use it.

[@upupandaway5646]

I' will be doing most of my shopping in usa.I had enough of seeing my hard work taxed to death

[@christosp.tsonis6194]

Here another nail on the coffin of the Canadian economy. One wonders where PM Trudeau and his finance minister Freedman studied economics!

[@ricktbdgc]

I feel like theres no hope for future here the way things are going

[@TheNugler]

There isnt

[@andrewmccoll1582]

Just walked through York Mills today. Disgusting amounts of wealth and big homes in the middle of the city. I think enough money has been made in this country. The people who have money aren't even keeping it here anyways. Most retirement savings, pensions, etc. are funded through the U.S. stock market.

[@lepoldbuttersstotch]

U.S. markets are global markets. Let's not kid ourselves. Canada is a small fish in a big pond and always a pretender economy. Slowest growing economy in OECD until 2060 and JT and crew are proud of it and doubling down. If you thought this circus couldn't get any worse, it's always surprising

[@kene9632]

Exactly everyone whining in the comments aren’t even investors or affected by this. The wealthy hoards their money and doesn’t get circulated and whatever they make goes into offshore accounts. If the middle class had more money and resources to spend and circulate into the economy those companies will see the benefit way faster than them getting tax breaks.

[@kene9632]

These corporations get the most tax breaks and exemptions and twice a year you gotta worry about you losing your job because they need to make the investors happy. If regular people like me had more disposable income I’d invest in Canadian companies especially my local, small upcoming businesses.

[@ysf6923]

Wait, there is increase in capital gain inclusion rate, but no increase in capital loss inclusion rate?

[@KKnits]

There goes any future business! And watch businesses clear out. Bananaless republic here we are.

[@user-nt6pb8vv1f]

scary part about all this is it makes me wonder if all these large companies are getting ready to jump ship out of Canada you got Brampton Chrysler shut down for two years Ford Oakville is shutting down for two years are they just waiting to see who wins the next election to jump ship out of Canada?? The last thing we need in Canada right now is to add to the cost of living and yes taxes add to the cost of living.

[@prabjotplays]

LOL all for the betterment of social welfare. How about we let the free loaders figure it out and cut spending where it's obviously not necessary

[@BnMProductions11]

Because poor people are very often not "free loaders" and it's been proven time and time again that letting them crumble does not better society. Properly aiding them adds to GDP, the issue is Trudeau and the liberals are just incompetent. But plenty of studies show that every dollar spent on social systems for the needy net the economy more than you spend, consequently the opposite it true of money spend on the rich, it negatively effects the economy. If you cut the leaves of a tree, they will grow back, if you cut the roots, the leaves eventually die. This is not a difficult concept, if you make people poorer and more desperate, they are more likely to become violent and become a drain on society. The conservatives have done a great job masking the fact that both Canada and the US have become more right wing fiscally over the last 30 years by focusing on shit like Trudeau's left wing social issues and his few tax policies, but by and large, businesses have less regulation, less competition and the rich pay less tax than they did 40 years ago.

[@sarahh8596]

Maybe if they stalled on immigration for a bit.

[@nickjohnston3882]

Zero capital gains on primary residents, even those who have doubled or tripled in value over the past 10 years. However, if any of my crypto currencies gain value, they're taxed 50% the minute it's converted to dollars.

[@dev4statingx90]

Strange isn't it?

[@jptrainor]

It's not taxed at 50%. Rather 50% of your gain under 250k is taxable income. And the change: for gains over 250k, 66% of the gain is taxable income. The taxable income is taxed at what ever your personal tax rate happens to be. And capital losses reduce that taxable income, as always.

[@alihusainmd]

You realize you’re competing with a country just south of you that taxes capital gains at 15% ? This is the most idiotic thing I’ve seen the canuckle heads come up with

[@dev4statingx90]

@@jptrainor in the US it's 25% why do we always pay more here? Socialism

[@jptrainor]

@@dev4statingx90 Short term gains are taxed as income. Long term gains are taxed near the rate you mentioned. And there can be state tax. In Canada if your effective tax rate is 40% and you have capital gain inclusion of 50% then your overall capital gain tax is 0.4*0.5 = 20%. Not a huge difference. However, for shirt term gains the US rate is higher since it's taxed as straight income.

[@robpet4424]

Increasing the capital gains inclusion rate was tried once before and was a dismal failure. It was rolled back to 50%..... I am the one taking the risk and have to pay ?

[@kt6332]

I guess I will cash in on my Canadian investments!

[@BnMProductions11]

And I'll buy the dip. Thanks a lot

[@kt6332]

@@BnMProductions11 A dip for a Dip!

[@BnMProductions11]

@@kt6332 Canada will recover, as a prominent member of the G7 and the US largest trading partner, as aren't going anywhere. Investor confidence is weak under Trudeau and I don't blame them, but I really can't see Canada becoming Zimbabwe or stocks all collapsing and never recovering.

[@04tsxpower]

The young people are extremely disappointed with the economy? Good! You voted him initially for legalizing weed. Then a second time and now you don’t like the results well enjoy

[@kennym3492]

Tax the religions!!! And the supoortes of those religions

[@schwags1969]

100%

[@TreDogOfficial]

Buy gold. No capital gains at the pawn shop😉

[@kaysjourneyasacanadiannurs4221]

Hey Canadians, I don't understand! If it happened like this in Korea, we would be already in the street, fighting against government. What are you guys doing??? Why are you not fighting against all these BS?? They are destroying this beautiful country! 😢

[@randomCADstuff]

Crazy that they'd change capital gains taxes NOW. Not years ago when it would have actually helped the country. Most of the money made either already has, or will, leave the country.

[@King_of_Sofa]

Are we really supposed to take this crap seriously? Don't worry, homeless people and criminals are so accommodated in our society. So I'm sure if you just don't pay tax on your capital gains you will be treated just as softly

[@wadesung5499]

Good job

[@ragurajaguru]

Wow instead of stimulating capital on investment ... they are depressing it further. I mean its already expensive.... Canada is uninvestable... no wonder real estate prices keep going up

[@pragmatica1032]

Key takeaway: "this is to fund mistakes they [Trudeau et al] have made in the last eight years and that's embarassing",

[@Rennette-td2mq]

This tax will be passed down the ladder to the price of everything us normal folks need to buy to live decently. The end

[@somisworldviews]

Can't invest and if u do then u get taxed until u realize it was a mistake. The entire country outlook for the future looks bad at best

[@RadiantandDire]

Increase Tax instead of cutting a bloated government.

[@davidlepoidevin4239]

Let’s increase taxes for more apps like arrive Can

[@user-oz4nn3jw8p]

Hold and don't sell your investment until Trudeau is gone or your lost and Trudeau's gain.🤭

[@angus3963]

If only it were that simple. This will have an impact on businesses AND trusts, managed or otherwise. Also, not only is the rate going up but the inclusion total is going up two thirds for businesses and trusts.

[@user-zt6gu1ph7c]

Thanks for sharing

[@gameburn178]

Someone has to show some imagination and courage: lower capital gains, and some income taxes, not raise them. I vote NDP and long for the return of more Mulcairs: believers in balanced budgets. Canadian governments -- provincial and federal both -- do need more revenue, but it is a disaster to raise more revenue through increasing capital gains. Kills planning and investing, and some risk-taking. Raise the GST to 10%, like the richer countries in Europe do, leave capital gains as they are.

[@winonebud]

I totally agree with these commentators. They couldn't be more correct.

[@APICSKH]

Learn to save, spend wisely,be prepared for rainy days. Cheap money for too long has got us to this point. Do not blame corporations. Good old days,people didn’t replace things until they were broken or unfixable, look around how our society has changed to a disposable.

[@DUDIDUAN]

Capitals will just leave Canada. Such a shortsighted move

[@davidcar4632]

Tax capital gains for selling ALL housings, this is the only WAY to bring down housing price!

[@leecrumble3921]

Thanks Trudeau and NDP! I wonder how long before these rich people raise prices on everything we buy to offset the tax.

[@dennishannerty1745]

That means the average Joe buying the product actually pays the tax anyways and suffers even more.

[@kungdu]

You help business grow. Your people will be fine. Singapore allows business to thrive. That's how you make captial That's how people stay busy.

[@BnMProductions11]

Singapore also has incredibly strict laws, is incredibly corrupt and they have extremely robust social systems. It's not like the US, they entice businesses as a tax haven but the rules are heavily enforced, their citizens are heavily fined aswell. If every country becomes a tax haven, that stops bringing in business so clearly it's not a sustainable solution. Singapore has also been backsliding in recent years and the system they've setup as a tax shelter for foreign investment is somewhat drying up n

[@garychynne1377]

rip off

[@slowmigo]

Is there any chance that this proposed tax hike on capital gains won't be put into effect?

[@MrNorthernopal]

Carbon Tax Offsets Program is available from a company out of Vancouver Canada called Baynsworth and Lloyd Holdings specialist can offer you different program options.

[@Finisl]

Most of the people below the age of 35 don't get much from capital gain; in other words, most of below 35 don't make much money from, such as, stock market or real estate investment. .... I'm sure those companies or individuals greatly benefiting from capital gain would be really happy to see a reduction of capital gain tax. How about making it zero?

[@giuseppeantoniorosi620]

Bloomberg News: “Let’s build an economy that critically depends on angel investment and pure speculation.” Yup. Can’t see how that won’t end catastrophically.

[@nerdynerd0]

Why can't I find anyone without a suit complain about this?🤔🤣🤣🤣🤣🤣🤣

[@jjseandxcefree]

just remove any benefit to flipping houses; leave the cap gains benefit for stock market.

[@senthilkrishnan1273]

Sadly being Canadian not worth it anymore... What have you done to this wonderful country JT

[@keithchau8587]

"pop gun to a war between battleships" LOL

[@candybonhomme5915]

Better sell my Canadian stocks

[@jasonthompson7230]

Angel investors and 180,000 bureaucrats. WTF is this guy talking about?

[@1meetup]

Axing/taxing on capital gains means more money going away from economy. This is bad for this already sinking nation.

[@kt6332]

One word that ruins everything, GREED!

[@davidlepoidevin4239]

Greedy government

[@angus3963]

Let's not overlook the fact they're billing this as a change to also drive new housing starts, something the government said they would fix 8 years ago, so did they ever plan of fixing housing if after 8 years they need to raise capital gains taxes and its inclusion rate by 2/3s to fix housing?

[@eanerickson8915]

Remember this: every time Grandma is buying cat food to eat, she is paying a conservative GST tax. I hope someone can show compassion for rich and their capital gains tax.

[@rally_chronicles]

You are less intelligent than you think. By far. Really really far.

[@ebonykitsune5031]

The purpose of the national sales tax was to replace the 13.5% Manufacturers' Sales Tax (MST) that the federal government imposed at the wholesale level on manufactured goods. Also it was conservatives that lowered it last time. On July 1, 2006, the Government of Canada reduced the tax by 1 percentage point (to 6%). They again lowered it to 5%, effective January 1, 2008

[@leonie563]

Rent seeking in all forms:- - capital gain tax cuts - payroll tax cuts - business tax incentives - landlord incentives All of them and the rest must be superceded by capital looking for stability not just rents. The whole World is hooked on it. Its pretty easy, everyone will follow, s o bu s iness, banks, superannuation funds, investment vehicles, foreign capital will all seek stability if everyone turns off the 🤑 tap.

[@robertj4689]

Alabama has long been one of the poorest states in the US Currently, more than 800,000 Alabamians live below the poverty line. The causes of Alabama poverty are complex and include historical factors like a state constitution that restricts fair and equitable taxation.

[@kylechristofferson349]

This is absolutely insane… when the economy is suffering, why disincentivize investment? The government needs to be SMALLER, reduce the amount of taxes required to pay for all these government jobs And stop paying politicians so much

[@BlackPanther-tt1vu]

Just when you thought things couldn't get worse, they do.

[@Brian.Martin]

All personal investnents now worthless

[@michaelraven6325]

canada is my favourite arab country

[@archie_bunker]

the Arab's are leaving

[@michaelraven6325]

@@archie_bunker hahahahaha

[@archie_bunker]

@@michaelraven6325 :)

[@Doctor_Bong]

No more rebalancing the portfolio. Don't "realise" any gains.

[@jptrainor]

Do it such that you realize less than 250k in capital gains and then nothing changes.

[@Doctor_Bong]

@@jptrainor I Only just heard about the 250k threshold. Lots of videos screaming about the end investing, not much mention of the 250k trigger.

[@jptrainor]

@@Doctor_Bong Yes. It won't affect most individuals managing a portfolio IMO.

[@brucebaum1458]

Wow if this passes my daughter mentioned she won’t be staying in Canada,she’s already been out 10 yrs, just came back a couple of yrs ago,say goodbye to another high earner.

[@hellcion123]

I’m embarrassed by the way our prime minister portrayed the capital gains increase. I’m 73 years old and not one of the wealthier citizens. This increase will affect me heavily. I have investments that provide me with a monthly income that makes staying in my own home and eating possible. It will affect my children when they inherit my house. After 40 years of being self employed and providing employment for others the government gives me a total of $700.00 dollars a month. Without having worked hard to provide myself an income I would be living on the streets.

[@user-tp7qb5he6x]

I could see the writing on the wall for years now. Two income household both with very respectable paycheques and we're eeking by. I have no idea how others are doing it. Any thoughts or dreams of building anything here is long gone. We've already started planning our move out of the country. Which is something I thought I'd never say having been born here. Unfortunately regardless who is office years from now it won't be any better. We'll still be paying for this past eight years long after Trudeau and Singh are gone.

[@retireddude3397]

There’s no amount of spin to convince people that paying taxes on a higher % of capital gains OVER $250K is bad. That said, we need tax reform. Not every forty years but at least every 20. And we need to become obsessed with increasing per capita GDP: investment, growing big companies into huge ones, applied research, better monitoring of industrial espionage by foreign govts, etc

[@annpatrick7142]

He has gone to far with this our homes that we worked or whole life for to help with retirement This man needs to go and not let this pass in the House of Commons

[@Sonic_Ancap]

I just gave up being a physician in Canada

[@alrighty6898]

Maybe don’t give employment agencies 60 million dollars to develop a simple app