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Canada's budget to increase taxes on the wealthiest, says source (www.reuters.com)

submitted 7 months ago by [email protected] to c/[email protected]

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[–] [email protected] 9 points 7 months ago (1 children)

It's a start. Its a modest increase in capital gains inclusion (66% instead of 50%) for all capital gains over $250,000 per year

So, good, normal people won't be affected at all, but only super wealthy folks triggering a quarter million in gains every single year are going to feel any effect. And unfortunately, there's more than a few ways to just avoid triggering gains anyways.

Eh, at least it's a start.

[–] [email protected] 3 points 7 months ago (1 children)

Until there is action taken to tax loans using stock as collateral, nothing significant will happen.

[–] [email protected] 2 points 7 months ago

You're right, and this is an excellent idea. If you're turning an asset into a cashflow, it should be taxable under all circumstances.