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83 sats \ 1 reply \ @jeff 17 Apr
Its brutal, but that is the capital gains inclusion rate, not the tax rate.
So you multiply the gain, by that number, then multiply it by the tax rate. Also, they added complexity by doing this for only gains higher than $250k. And, they implemented the rule, for a fraction of a tax year.
Classic fucking government stupidity, not giving a fuck about the tax base or the impact on their own planning.
Dont get me wrong, is stupid af. But not 66% stupid.
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0 sats \ 0 replies \ @TomK 17 Apr
It's a progressive tax, I know. But the marginal rate is important as the rich are moving the capital
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10 sats \ 0 replies \ @siggy47 17 Apr
This is an unquestionably stupid idea.
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21 sats \ 0 replies \ @Coinsreporter 17 Apr
Ease out everyone, this is a dupe of @TomK's post earlier read it #508574
You can surely understand the difference.
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0 sats \ 1 reply \ @kr 17 Apr
the quote is wrong, Canada’s capital gains tax rate is not 50% and it is not going to 66%.
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0 sats \ 0 replies \ @Coinsreporter 17 Apr
#508936
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0 sats \ 2 replies \ @jgbtc 17 Apr
$250k is pretty low. A lot of average joes will be screwed by this. Saved up for your kids college fund the last 18 years? Sorry, now you can give Trudeau 67% of it.
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0 sats \ 1 reply \ @kr 17 Apr
not how it works, this article got it wrong.
it’s closer to 30%.
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0 sats \ 0 replies \ @Coinsreporter 17 Apr
#508936
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0 sats \ 2 replies \ @Cje95 17 Apr
Well I think that will take living in Canada off my list along with owning stock in Canadian companies lol
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0 sats \ 1 reply \ @Coinsreporter 17 Apr
Don't worry just find the reality here.
#508936
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0 sats \ 0 replies \ @Cje95 17 Apr
Ahhh phew I was like I have a couple Canadian companies in my stock portfolio!
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