With the federal deficit now estimated to come in at $18 billion (or more), there is nervous speculation that Finance Minister Bill Morneau may go beyond the specific tax changes already detailed in the Liberal pre-election platform and introduce new measures in his March 22 budget to raise much needed tax revenue. One such measure being discussed in the financial and tax community is whether the government might raise the tax rate on capital gains. Read More…
2016-03-06
I am still perplexed why our country still allows those who earn so much to get away with the income they earn through a system that comes down to pushing a button. They should be charged at the full income rate of their tax rate.
If it were me they’d be charged 100% on capital gains at their marginal rate. End of story.
One unfortunate thing about tfsa is if u earn dividends from US stocks then it will be witheld by the IRS. So just be careful how you structure your portfolio.
hmmm, maybe i should be selling some of my holdings before this takes affect. Not enjoying this Liberal control at all.
Capital gains has always been and always will be a way for the few (the rich) to get away with less taxes. This is why we should have better laws so that everyone pays their equal share.
Interesting. I never knew gains were only charged on 50% of it. I assumed it was on the entire amount. Proving once again, be rich or you get hosed 🙁
Anyone know if it will be effective this year?
Never heard of Lifetime Capital Gains Exemption program. Curious, do those who did take advantage of it back then still get it now — meaning: grandfathered in?
I am a big time investor and so something like this is very interesting.
Makes perfect sense to bump it up. It’s about time to start earn some income from those who don’t need it.
Oh wow, readin the article and very surprised we as a nation never charged more than 75%. And never once at 100%. Seems about time this wrong is righted. The problem is for how long will it last?