Taxes going up!! Again!!

[HappyJack]

You’re missing a link; the investor that just ‘bought something and sat on it’ bought it with earnings, possibly from working 16 hr days paving highways, and was already taxed at the appropriate bracket(s) on those original earnings.

When investments are in holding companies, the earnings have already been taxed at corporate rates and when they are drawn down as personal income they are taxed at the bracket rates.

Of course the money he invested was already taxed, when he sells those shares at a profit his original investment isn't taxed again, only the gains less expenses are.

And monies held in holding companies are taxed at corporate rates that is true, the stock/retained earnings~ profits can be trickled out tax free via the use of dividends prior to the sale. A sole shareholder could collect approx. $40,000 a year in dividends out of his company tax free.[assuming only income], he could also have his wife and 5 kids all as shareholders and take $40K a year each and they would pay zero income tax. They call that income sprinkling and when the liberals floated the idea about taxing that there was a real uproar.

[HappyJack]

Even middle class real estate investors will get caught in this. Regular middle class guys that work a ton of overtime to make extra money that have invested in the real estate market. This gets added to you income at the end of the year meaning in high tax brackets. You make 160 a year. Now all that capital gains income is in the 40+% bracket when combining federal and provincial income tax. Its a total crock of sh*t. Investors and business' will flee this country like they did california. Canada is almost unrecognizable. Its a real shame only some people stood tall when they pushed mandatory vaccines for work, travel and restaurants. They know most canadians are pansies and push overs and wont stand up for f*ck all except maybe when the canucks crater in the playoffs. Trudya got until fall of 2025 and hes not even close to finished. Anyone who believes in more taxation is a moron. All your tax money is being laundered by prime minister zoolander and his crew of clowns!!! You are funding housing and welfare for illegals, open drug injection sites and free heroin while good hard working canadians who have paid into this system cant even get a doctor and you get told to leave your car keys at the door so the thieves dont have to come too far into your home. This country is done.

Capital gains only get added to your income if you sell real estate at a profit. And if you are under $250,ooo a year there is no change you'd only have to claim half of your profits as income. I think a smart person would 't sell in years they are working all that OT and in a high tax bracket already? I think if people believe this way of claiming capital gains is FAIR AND EQUITABLE, then the guy working OT should only have to claim 50% of his earnings as income too. Level the playing field.

[Redthies]

I’m not paying taxes again until Turdhole is gone. I’d rather pay a penalty and have my tax money go to a government that will actually do something usefull with it.

[HappyJack]

I’m not paying taxes again until Turdhole is gone. I’d rather pay a penalty and have my tax money go to a government that will actually do something usefull with it.

You mean that you don't want to donate so the CBC can get grants for executive bonuses??

[Squire]

Of course the money he invested was already taxed, when he sells those shares at a profit his original investment isn't taxed again, only the gains less expenses are.

And monies held in holding companies are taxed at corporate rates that is true, the stock/retained earnings~ profits can be trickled out tax free via the use of dividends prior to the sale. A sole shareholder could collect approx. $40,000 a year in dividends out of his company tax free.[assuming only income], he could also have his wife and 5 kids all as shareholders and take $40K a year each and they would pay zero income tax. They call that income sprinkling and when the liberals floated the idea about taxing that there was a real uproar.

That real uproar was ignored and the Liberals eliminated income splitting for those under 65 years of age early in their mandate.
Dividends are categorized as either eligible or ineligible depending on whether corp qualified for the small business tax deduction or not. It just means eligible are taxed at a lower rate because corp paid more to start. There is a concept of tax equalization applied that ensures no matter how you draw income down from corp (dividends, management fees, salary) the total taxes are about the same.
No one pays a lot of income tax on earnings under $40K

[browningboy]

All the guys that whine about Trump never seem to care what Trudeau does? Keep whining about Trump but keep,silent about our mess…

[HappyJack]

That real uproar was ignored and the Liberals eliminated income splitting for those under 65 years of age early in their mandate.
Dividends are categorized as either eligible or ineligible depending on whether corp qualified for the small business tax deduction or not. It just means eligible are taxed at a lower rate because corp paid more to start. There is a concept of tax equalization applied that ensures no matter how you draw income down from corp (dividends, management fees, salary) the total taxes are about the same.
No one pays a lot of income tax on earnings under $40K

There shouldn't be income tax under $40K anyway, the governments collect enough with sales/gst/carbon/sugar and all the other taxes they have created. IMHO