New tax in the works on the sale of your home

[Rejigger]

[img]

^^”Another idea that has emerged from housing town halls is … tax on the sale of principle residences.”

I strongly doubt that this idea came from town halls. Why would people tell the government to tax average citizens MORE while giving a pass to foreign home ownership?

Justin Trudeau took office in Nov’15 and it was decided in Oct’16 (iiuc) that we were to start reporting the sale of our principle residences on our tax returns. JT wasn’t in office a full year yet and he expects us to believe this idea came from town halls? I’d also like to know when his first-ever town hall meeting was held.
~

[puterbrother]

New world order psychopaths...
Discouraging everyone from wanting to work and dream about owning anything.
Falls in line with "you will own nothing and you will be happy".

[Catsumi]

New world order psychopaths...
Discouraging everyone from wanting to work and dream about owning anything.
Falls in line with "you will own nothing and you will be happy".

I agree, but at the same time, feel so “sad” (for lack of a better word) for the young folk.

What a bitter pill for them to swallow.

You will own nothing and you WILL be happy.

Smacks of the Communist credo of “ FROM each according to his ability, to each according to his “NEED”.

What a stellar life sentence of servitude we pass onto next generation of hard working, clear-eyed optimistic youth who struggle ahead with this albatross-like harness stung around their necks.

I am SO glad I am old … not having to deal with this poisonous attitude and outlook.

[fluffy]

What a stellar life sentence of servitude we pass onto next generation of hard working, clear-eyed optimistic youth who struggle ahead with this albatross-like harness stung around their necks.

The younger generations are saddled with that right now, thanks to a few decades of unregulated capitalism.

[Catsumi]

From your reply I take it that you’d prefer “unregulated socialism” to be the albatross around the necks of the young upcoming?

We do not have “unregulated capitalism” now. We have a mongrel system of each system that is strangling the future growth of our economy and leading into despair of young folk trying to make their way in this screwed up world.

It’s the story of the little Insect who works hard, saves against the winter but finds in the future that those who didn’t bother to save are now entitled to his hoardings.

Which insect are you?

[Rejigger]

New world order psychopaths...
Discouraging everyone from wanting to work and dream about owning anything.
Falls in line with "you will own nothing and you will be happy".

Well that's just it, isn't it?

Socialism takes away any incentive for people to work hard because hard work would only help those who won't help themselves. Some people are so miserable and jealous of those who have what they covet, that they can't see this simple concept. Haters gonna hate.
~

[The Straken]

Socialism takes away any incentive for people to work hard

Where does it say this?

[Sparki55]

Socialism takes away any incentive for people to work hard

Where does it say this?

Didn't CERB just prove this?

Why go to work when the government will take money from other people and give it to me?

If someone has UBI, free healthcare, right to housing, right to food, what motive do they have to work? They can survive and have a decent life without ever needing to work. This system eventually runs out of money as there will be some people who choose to work to better their own life however that "extra" work will be taxed to pay for everyone else's benefits. People eventually give up supporting the lazy ones and the system collapses.

Unless machines take over and start doing everything humans do, including their own maintenance, then we can look into socialism supplied by the robots since nobody needs to work.

[Babba_not_Gump]

Don't expect the Liberals to do anything to moderate house prices. They want them high.
And to add to high house prices, it appears the Liberals will continue to turn a blind eye to house flipping.
Remember this guy?
https://nationalpost.com/news/politics/ ... oulds-seat

House flipper extraordinaire, Taleeb Noormohamed is leading in his Vancouver riding.

[The Green Barbarian]

Didn't CERB just prove this?

Why go to work when the government will take money from other people and give it to me?

If someone has UBI, free healthcare, right to housing, right to food, what motive do they have to work? They can survive and have a decent life without ever needing to work. This system eventually runs out of money as there will be some people who choose to work to better their own life however that "extra" work will be taxed to pay for everyone else's benefits. People eventually give up supporting the lazy ones and the system collapses.

Unless machines take over and start doing everything humans do, including their own maintenance, then we can look into socialism supplied by the robots since nobody needs to work.

This is happening in Norway right now. Norway is the canary in the coal mine.

[foenix]

Didn't CERB just prove this?

Why go to work when the government will take money from other people and give it to me?

If someone has UBI, free healthcare, right to housing, right to food, what motive do they have to work? They can survive and have a decent life without ever needing to work. This system eventually runs out of money as there will be some people who choose to work to better their own life however that "extra" work will be taxed to pay for everyone else's benefits. People eventually give up supporting the lazy ones and the system collapses.

Unless machines take over and start doing everything humans do, including their own maintenance, then we can look into socialism supplied by the robots since nobody needs to work.

This is happening in Norway right now. Norway is the canary in the coal mine.

Really?......they are? Doesn't look like that to me.....

During the year, unemployment in Norway does not exceed 5–6%. One of the best indicators in Western Europe. Local employers create comfortable working conditions and provide employees with high salaries and social security. To be officially employed in Norway, you must find a job vacancy in advance, sign an employment contract, obtain a work permit, open a visa and apply for a Norwegian residence permit.

https://wagecentre.com/work/work-in-eur ... -in-norway

Arent the labour shortages in mostly white countries because of low birth rates, massive boomer retirements and selective immigration policies?

As far as the capital gains tax on primary housing, Norway appears to similar to our system.

If the conditions for tax-free sales under the Norwegian rules are met, any gain that is made won't be tax liable in Norway.

https://www.skatteetaten.no/en/person/t ... in-norway/

[Gone_Fishin]

It's in the news again.

Former CMHC head Evan Siddall says taxing the sale of your house is progressive and "helps" people buy houses. Right.

He presided over Justin Trudeau's orders to CMHC to investigate taxing your house. He knows what's coming.

[foenix]

*removed*

[Babba_not_Gump]

It's in the news again.

Former CMHC head Evan Siddall says taxing the sale of your house is progressive and "helps" people buy houses. Right.

He presided over Justin Trudeau's orders to CMHC to investigate taxing your house.

He knows what's coming.

And so do we.
Start filling up your offshore accounts, that's the only protection we'll have from the vultures in Ottawa.

[Catri]

It's in the news again.

Former CMHC head Evan Siddall says taxing the sale of your house is progressive and "helps" people buy houses. Right.

He presided over Justin Trudeau's orders to CMHC to investigate taxing your house. He knows what's coming.

Links are helpful. The only article I found about this: https://www.ctvnews.ca/canada/canada-no ... -1.5693417

He acknowledged that it’s an idea not on the minds of policy makers, as it would lead to “political suicide.”

“Politicians just aren't allowed to have this conversation because the opposition, and it's any colour, will skewer them for it. And so we don't have the debate we have to have.”

This seems to contradict your interpretation that a capital gains tax on the sale of principal residences is imminent. In fact he seems to be bemoaning the fact that it won't fly, despite his hopes that it would.