RE:RE:Buyback taxesDead giveaway this "story" is BS spread via internet,Facebook,conspiracy theory farright nutbar sights. The giveaway? The button asking for a donation. A legitimate tax expert doesn't beg for money. That's what interest groups of all types do. The more I read, the more angry I got that somebody would pretend to know what they are talking about and present extreme opinions (to be generous, BS to be fair). There will not be taxation of buybacks. It's the stupidest counter democratic western world capitalist idea I've heard in a long time. Return of capital is not return on capital to put it simply. It's as clever as taxing debt repayments because all those bond holders are rich people and pension funds don't pay tax on interest either. money is way smarter than tax collectors. There are plenty of ways to disembowel any attempt to punish companies that use buybacks. For starters, the companies will be so flush with cash they could start doing really stupid things instead of returning excess capital to shareholders. They could invest in bit coin, or space exploration ventures to mars or Uranus. Or more likely they'll just buy each other up in a massive feeding frenzy. They won't drill unless oil is much higher and taxing oil companies won't increase drilling. I could go on, but I'm spent for now. After reading the other absolute twaddle on this bored board I'm going to get every shot I can tomorrow so I'll outlive the idiots. Flu,Covid,pneumonia,shingles (don't care), polio, small pox, hpv,hepatitis a,b to z,tetanus, and what the heck diphtheria. I'm good for measles,mumps,rubella and chicken pox.
Chrisinvan7 wrote: Meh, the US implemented a similar tax effective Jan 1 '23 at a rate of 1%, Canada would likely match the rate as setting it higher will risk corp HQs re-domiciling in more friendly jurisdictions. I'd prefer not let the camels nose under the tent in the first place, but any new tax of this kind will just result in increased dividends.
https://www.taxpolicycenter.org/taxvox/1-buyback-tax-could-lead-higher-dividend-payouts