RE:RE:RE:RE:RE:RE:ConfirmationDivChase wrote: Packer. Writing down assets is a strategy to lowered your taxes on profits/income. What if there are no profits and poor farmer Joe just wants to quit after working his whole life. Most farmers equity is all they really have to fall back on for retirement. Same can be said for large portion of business and landlords here these days. Here comes libtards now increasing the inclusion rate, in a sense moving the retirement goalposts yet again.
it is a painful increase for many many people. You can not deny this. It's simply unfair attack on small business. People that are simply not liberal supporters in general, do they get dinged . Why didn't that chicken sheet just increase the GST if they need more revenue?. Remember you mentioned I think it's the fairest tax form. They didn't Because libtards know GST increase in final nail in thier coffin.
"Poor farmer Joe"???? who routinely buys million dollar tractors??? If your business requires a few million dollars in cap ex let's agree that we are not talking about some hayseed with a horse, a pitchfork and 4 shoeless kids to feed, ok?
If we're going to have government we are going to have taxes. Today's changes won't affect the average Canadian in ANY way. So said Jamie Golombek, Managing director, tax and estate planning for CIBC private wealth on a BNN interview this morning (Video not up on BNN website yet but it's definitely worth catching when it eventually get posted there).
Farmer Joe got his one time NO TAX capital limit increased from 1 mil to 1.25 mil. If farmer Joe can't figure out how to retire retire on 1.25 million tax free cash he needs to see a financial advisor.
How many Canadians do you know who have more than 250,000 capital gains a year? Must be nice!
Oh but wait! Those poor kids that inherit a cottage their parents bought for 250k that is worth 2.5 million. How are they supposed to pay the taxes on that??? They don't. Their parents do the day they pass. That means selling the cottage. It was never the kids cottage to begin with....if they want to keep it they have to pay the taxes for their parents on it. C'est la vie!
The goalposts ALWAYS keep moving. Where you been? Mulroney put in the GST, Harper lowered it....stuff happens....ALL THE TIME.
Raising the GST would have increased taxes on ALL Canadians. You'd prefer that?
The change in the inclusion rate affects very few Canadians....and they can afford it.