The communists in Canada are working hard to nip any form of capital formation in the bud and drive foreign investors out of the country with the new capital gains tax of over 60%. Congratulations Canada!
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The communists in Canada are working hard to nip any form of capital formation in the bud and drive foreign investors out of the country with the new capital gains tax of over 60%. Congratulations Canada!
it’s not a capital gains tax of 66%.
66% of your capital gains above $250k/year are now taxable at your income tax rate.
the person who wrote that article got it wrong. they also got the corporate tax thing wrong.
How are people so short sighted? Madness…
the article quoted got it wrong, there is a tax increase but it’s not even close to what that article implies.
Much to the Canadian and similarly the European, UK chagrin, servitude by design. I suppose I could be religiously depressed here with end of days prophecy, but let's just leave it at short sighted governance, quite possibly madness.
For me this is the sign of immaturity that Justin Trudeau possesses. He is quite negligent about his countrymen's welfare. Canada is a big country with immense land to live, why you bother about foreign investment?
It's about 2rd and 3rd round tax theft
That's what I'm saying, why would they need it to do? This way they risk the foreign investors flee out of canada?
I think there'll be a wave of coordinated tax steps to avoid that. They are starting the plunder
There are many Indians in Canada and me Indian too, I can say one thing for sure, Indian business people are better in stealing or avoiding taxes. Indians in Canada will find a way.
Good luck, my friend. You're fighting a good fight!
Thanks! But I don't live in Canada, I live in India and the situation is a little better here.
Ah sorry, now I remember
I had no idea it was currently 50%, which is bad enough. Capital controls might soon be in the offing.
100%
Justin's dad Fidel would be proud.
it’s not 50%, Canada currently taxes 50% of your capital gains at your income tax rate. the article above is wrong.
https://m.stacker.news/26993