Yes. Primary residences are exempt from the increase in the capital gains tax. People selling their primary residence are unaffected by the budget.
Kichae
joined 2 years ago
The NDP got dental care through. The Liberals delayed enacting it significantly, and we've ended up with unnecessary needs assessments.
But I'll grant you the rest.
It doesn't apply to returns from selling your primary residence, even.
The only people outside of the ownership class (landlords, and people who own and peddle stock for a living) who are going to get caught in this are people who inherit an extra house.
But the increase in the capital gains tax for realized gains above $250k is going to push all of the researchers and engineers out of the country, eh! Big brain drain happening!
No, it's not "anyone who invests". The change is only for capital gains above $250,000. If you're reporting $250k or less in capital gains each year, you see no change whatsoever.
What retail investors are making those kinds of realized returns?
The better question may be, what has he done right?
That's not to say it's a right/wrong binary, but rather: What has he made better? How has he improved the lives of people living here?
His biggest accomplishment has really been not being Stephen Harper, Andrew Scheer, or Erin O'Toole. And the biggest reason to vote Liberal in the next election is him not being Pierre Poilievre.
It's almost as if the people that run corporate media gain to lose something from the capital gains increase and are going all rapid dog over it.
Not even a lot. Just... something. They're totally unwilling to give up anything at all.
If you're investing in something, you're injecting some effort or resources into it that improve it over the long term. This means you're not going to be impacted by capital gains taxes anytime soon.
These people aren't "investor", they're speculating vultures. The only thing they're interested in improving is their place in the personal wealth hierarchy.
We don't need them. Eat 'em all.
Or often any of it, until retirement. If you actually do work for a living, you don't have time to be constantly shifting assets around the market.
Brain drain? The brains are pulling salaries for their primary income. If you want to stop brain drain, pay your employees more, you whiny, greedy leeches.
Edit: Like, seriously, the gall of these people presuming to be the "brains" because they own shit for a living.
Oh, is that how this works? Well, considering the capital gains tax is significantly lower than the income tax, it sounds like wr should stop labouring, based on this logic.
Also, we pay for those insurance plans. They take money out of our paycheques every month to cover premiums. Almost certainly more than most of us pay in taxes to cover federal pharamacare.
The fact that li'l PP pants here can just lie publicly without consequence, and indeed is likely to be rewarded for it, is a crime against us all.