RE:Increase of taxable capital gain: June 25thCurious777 wrote: From 50 to 67%...
This could be a window (2 month) of opportunity for a take over. There will be "before" and "after" June 25th.
Convincing shareholders to accept an offer will be that much easier.
Que sera sera...
That increase back to 66 2/3 % is only on the portion over $250K I believe. I could only dream of ever getting to that point but if we put Trudeau's gang back in there is a possibility they will hit it lower in the future. Depends on how many votes it may affect. Some on this board may be affected this/next year.
If you have $300K gains as it is now you pay tax on 50% or $150K. If this budget passes and you have $300K in gains you will pay tax on 50% of the first $250K which is $125K and on 66 2/3% of the final $50K which is on $33,335. Bottom line = $158,335 gets taxed in the new system compared to only $150,000 as it is. I think I said that correctly.