Athabasca Oil Corp T.ATH

New Capital Gains Taxes for Individuals

[BigJake]

If you report a capital gain in excess of 250,000 in any one year the tax rate on the capital gains increases from 50% to 66%. They plan to implement this tax as of June 2024. 

Another going away present from Justin and friends

[BLACKJACK86]

50 % was already obscene, 66% is downright MAFIA. zone.... Keep spending like crazy justin , he will be remembered as one of the worst incompetent prime minister, nothing to be proud about 

[cahclick]

  Trudeau knows the guys he's screwwin over with this additional tax raid don't vote for him any way. He probably sees it as a win-win. So sad what my country has become.

[Jimmy1page]

Budgets balance themselves and we need Halal mortgages.  Lol

[mugs19]

"50 % was already obscene, 66% is downright MAFIA." For clarification, Capital Gains are not taxible at a 50% tax rate. It means that 50% of the capital gains is taxable at whatever tax rate you fall under. Example if you have 10,000.00 in capital gains, 5,000.00 is taxable.  The new category will be: If you have $250,000.00 in capital gains, 66% will be taxable ($165,000.00) at

[cahclick]

  They did not propose changes to any of the "tax rates", only to amount of capital gain that is subject to tax. Before their change, 50% of a capital gain of $250,000 or more was subject to tax. After the change, 66% of a capital gain of $250,000 or more is subject to tax. The "tax rate" at this level is currently 48%. So on a million dollar capital gain; Tax

[BigJake]

I actually think the new tax is a little less than that because as I understand it is still 50% on the first 250,000 and then 66% on the last 750,000 in your example. Either way taking from the people who start businesses or invest in business is clearly not the way to go

[cahclick]

  I reread the material and I believe you are correct. Thanks go ATH go

[mugs19]

Cahclick - you said the exact same thing as I stated using different numbers. I was responding to previous quoted posts - talking about 50% tax rates and 66% tax rates. My answer in my first sentence  " Capital Gains are not taxible at a 50% tax rate." ... mugs

[cahclick]

mugs19 - sorry, I didn't mean to step on you or your post. I was just trying to give my own interpretation but then got it wrong as noted by Bigjake. I should have stayed in bed. glta go ATH go

[SmokeyOB]

And here we a have government that wonders why people don't or want to invest in this country. The problem is it is the wealthy people not the poor people that create jobs and businesses. Wait to go and give all the hard earned money to immigrants and vagrants. Not mention affordable housing that won't work. The reason why house prices are so high in some places is simple municipal