RE:Capital gains increased taxes WILL hit farmers HARD,,,,,,,,, This IS the REAL EVIL with the INCREASED Capital Gains Taxes for
a LOT of Farmers.
Capital Gains Tax was ENACTED in 1972__After a LOT of POLITICAL
DEBATE the Goverment DECIDED to ELIMINATE Estate Taxes__And
REPLACED the with the Capital Gains Taxes.
In MY OPINION__A LOT of Farmers WILL BE HIT HARD with What
BASICALLY Has BECOME an Estate Tax__JUST Because
their Life Time LAND VALUES Have INCREASED a LOT.
And the REAL INSULT is to Deem the Land Value INCREASE as a ""GAIN""
When IN Fact MOST of that ""Supposed GAIN"" was DUE to Simple Inflation
[url=https://]https://www.officialdata.org/canada/inflation/1974?amount=1[/url]
The dollar had an average inflation rate of 3.67% per year between 1974 and today, producing a cumulative price increase of 507.07%.
With NO ADJUSTMENT in Capital Gain Taxes For INFLATIONARY VALUE INCREASE__This
CREATES a VERY UNFAIR Situation for FARMERS eh !!!
Oh__And the SAME UNFAIR Situation WILL BE FACED by MySelf and MANY OTHERS With
Regard to My MULIT-DECADE Stock Holdings__Such as My TELUS Since 1990__We WILL
ALL Pay Capital Gains Taxe on INFLATED VALUES__NOT the TRUE Inflation Adjusted REAL
GAINS eh !!!