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Policy / Politique
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You can etransfer to Henry Lam at chesstalkforum at gmail dot com
Transfér à Henry Lam à chesstalkforum@gmail.com
Dark Knight / Le Chevalier Noir
General Guidelines
---- Nous avons besoin d'un traduction français!
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Advice for free
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"The inclusion rate was increased from one-half to two-thirds for annualized gains over $250,000 by individuals, and on all capital gains by most types of trusts.
The [minority] Liberal government announced the capital gains tax hike in Budget 2024 and the measure was subsequently adopted by the House of Commons in June through the passing of a ways and means motion. Conservatives were the only party to oppose it.
In a post on social media [25/1/16], Poilievre said the idea of hiking the capital gains tax was “bad” before U.S. President-elect Donald Trump threatened 25 percent tariffs on Canada and now it’s “outright insanity.”
“This is a tax on home builders when we have a housing shortage, a tax on doctors when we have a doctor shortage,” Poilievre told reporters. “It is a tax on small business when we have an economic crisis, it’s a tax on farmers when we have a food price crisis, and it will send billions of dollars away.”"
"The inclusion rate was increased from one-half to two-thirds for annualized gains over $250,000 by individuals, and on all capital gains by most types of trusts.
My understanding is that this increase is not finalized, at least by what I am reading in the financial press. By proroguing parliament this has in effect at least gone into suspended animation but Revenue Canada is still enforcing it. Any attempt to finalize it would require the government to end the proroguing of parliament and in all likelihood trigger an ensuing election. There are many articles in the financial press like the following:
Well, I suppose big spenders will be able to hire tons of lawyers to get back the increase if it has never supposed to have been in effect!
Bob A
The advice that I am seeing is to pay it and you will get it back later if the government falls before they can finalize it. If you don't want to pay it, you may be hit with interest and penalties if the government somehow succeeds in averting a non-confidence vote the moment they end prorogation.
In all countries, the dividing line is drawn at a level which makes 'the wealthy' a minority... so that the majority can vote to tax the 'wealthy' in order to benefit the 'not so wealthy'...
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