66.7% Cap Gains Tax in Canada

[George K]

@Axtremus said in 66.7% Cap Gains Tax in Canada:

Will they quit Canada over it?

They'll have to get in line behind all the celebrities who moved to Canada after elections didn't go in their preferred way .

[jon-nyc]

@Axtremus said in 66.7% Cap Gains Tax in Canada:

BTW, @George-K , the thread title “66.7% Cap Gains Tax in Canada” is misleading.
The “66.7%” is the “inclusion rate,“ not the tax rate.
As in ”only 66.7% of your capital gains will be used to calculate your tax,” as opposed to “your will owe 0.667 CAD of tax for every 1.000 CAD of capital gains you realize.”

That’s how I read it too. Here, 100% of your capital gains are included in the tax calculation.

[George K]

@Axtremus said in 66.7% Cap Gains Tax in Canada:

BTW, @George-K , the thread title “66.7% Cap Gains Tax in Canada” is misleading.
The “66.7%” is the “inclusion rate,“ not the tax rate.
As in ”only 66.7% of your capital gains will be used to calculate your tax,” as opposed to “your will owe 0.667 CAD of tax for every 1.000 CAD of capital gains you realize.”

Ah, thank you.

[Doctor Phibes]

For 99.87 per cent of Canadians, personal income taxes on capital gains will not increase.

OK, possibly not the biggest thing to hit.

[George K]

I just find it interesting that the word "Fair" appears throughout the document nine times.

That is a concept that is based on the perception of the person who thinks he is being treated unfairly.

[Horace]

Left wing populism. But I repeat myself.

[Renauda]

@Axtremus said in 66.7% Cap Gains Tax in Canada:

BTW, @George-K , the thread title “66.7% Cap Gains Tax in Canada” is misleading.
The “66.7%” is the “inclusion rate,“ not the tax rate.
As in ”only 66.7% of your capital gains will be used to calculate your tax,” as opposed to “your will owe 0.667 CAD of tax for every 1.000 CAD of capital gains you realize.”

That’s correct.

As to your other question. No they probably will not leave Canada, although both own one or more offshore properties in more tropical climates. Both have extended families living in Canada that involve grandchildren. They are staying put for at least six months of the year.

[Renauda]

@George-K said in 66.7% Cap Gains Tax in Canada:

I just find it interesting that the word "Fair" appears throughout the document nine times.

That is a concept that is based on the perception of the person who thinks he is being treated unfairly.

You actually pay attention to that shit? I can assure you no one in this country does. “Fair” is a populist buzzword for “we’re going to screw you from behind and use lot’s of Vaseline while we are doing it”

All the populists right and left use that meaningless word.

[Axtremus]

“use lot’s of Vaseline”

It’s that world renowned Canadian politeness again.
Populists south of the 48th may not bother with using any.

[Doctor Phibes]

@Axtremus said in 66.7% Cap Gains Tax in Canada:

“use lot’s of Vaseline”

It’s that work renowned Canadian politeness again.
Populists south of the 48th may not border with using any.

That's more an implementation of what British Conservatives lovingly refer to as 'Victorian Values'. Lubricant was reserved for those who lived above stairs.

[George K]

@Renauda said in 66.7% Cap Gains Tax in Canada:

You actually pay attention to that shit? I can assure you no one in this country does. “Fair” is a populist buzzword for “we’re going to screw you from behind and use lot’s of Vaseline while we are doing it”

That's exactly my point.

[Renauda]

Fair enough.