Veren Inc T.VRN

Capital gains increased taxes WILL hit farmers HARD,,,,,,,,,

[Red_Deer]

Upon Researching the DATA for Alberta farmers__Indeed they WILL Get
Hit HARD by the NEW Capital Gains Rates whenever Their Farm is
DISPOSED__Either by SALE or ESTATE Transfer Upon Death.

The MAJOR Asset for ALL Farmers IS Their LAND__And The VALUE
of that Land HAS INCREASED a LOT During the LifeTime of the Farmer

I Used the Period 1974 to 2013__In That Period the Average Land Value
in Alberta ROSE from $140 to $3728 Per ACRE.

For Every SECTION of FarmLand__640 ACRES__The VALUE Rose from
$89,000 to $2,385,920

The AVERAGE Farm in Alberta is NOW Around 1.75 SECTIONS of Land

THUS Upon the SALE or the Transfer via ESTATE the Farmer WILL BE
Exposed to LARGE Capital Gains Taxes__The Difference Between the
1974 Value to the CURRENT 2013 Values

For the Average 1.75 Section Farm the TAXABLE Capital Gain @ 50%
INCLUSION Rate Would BE $2,009,280

At the NEW 2/3 rd INCLUSION Rate the TAXABLE Capital Gain would
BE $2,679,040__An INCREASE of $669,760 From the 50% Rate__NOTE
that I am NOT Making an Adjustment for the FIRST $125,000 Taxable Gain.

In ADDITION to the Tax on the LAND__The Farmer Will ALSO Face MORE
Capital Gains on the SALE or Deemed Dispostion of ALL the Farm Buildings
and Machinery/Equipment.

DID Alberta Farmers DESERVE THIS__By BEING Targetted As THE RICH
Who CAN and THUS SHOULD Pay MORE eh ????

[packerdriver]

HARD? Red deer???? Using your numbers.... 2013 average 1.75 section farm value...4,175,360 1974 average 1.75 section farm value.....155, 750 Capital gain over 40 years.....................4,020,610*** Less one-time no tax on 1.25 million.....2,770,610 That is the net capital gain I won't even bother/spend the time doing the 50% and then 66% for the inclusion rate... I'll just do the whole

[Red_Deer]

Hey PACKER__You Should HAVE Run the 50% Number TOO__As the INCREASE is OVER $146,000 PLUS Provincial Tax. THUS I Continue to BELIEVE that IT IS UNFAIR to Have a SELECT GROUP Pay THAT MUCH MORE TAX__Simply Because Their LAND VALUES Have Gone UP in the Past 50 Years eh !!!

[packerdriver]

Ask and you shall receive..... 2,770,610 net capital gain AFTER the 1.25 million exclusion available to farmers, fishermen and small businesses, including incorporated doctors, dentists.... Inclusion rate 50% first 250,000 = 125,000 2,770,610 less 250k = 2,520,610 @ 66% =1,663,602 Total 1,788,602... I will again not bother with all the income brackets and charge the max 33% tax rate 1,788,602

[DivChase]

Your missing the point as usual.  The question is not how low should we reduce taxes.  The question is why do taxes as a percentage of income or profit always have to increase. Year after year after year.  Why does inclusion rate need to go up as well?   If people are prospering as libtards claim the tax revenue will increase with the same taxation rates, as people's

[packerdriver]

You're not going to like this....the second federal tax bracket (55,867 to 111,733) has been taxed at 20.5% since 2016....prior to that it was taxed at 22%. It was the new, at the time, "libtard" government that did that. You say taxes in Canada are too high and always always going up??? You might want to read this https://www.oecd.org/tax/tax-policy/taxing-wages-canada.pdf Anyway

[DivChase]

That pdf is just tax on wages .  I'm not interested in the libtards election promise to placate thier base by offended the rest.  Like sneaky payroll tax increase wipes out that decrease.    Carbon taxes on car fuel, home heat, electric    But leave it to you to ignore all the other taxes introduced over the decades.  The Fraser institute calculate tax

[Red_Deer]

Hey PACKER__Indeed a LOT of INTERESTING DATA in that PDF Link You POSTED !!!! Including THIS Employee tax on labour income   The employee net average tax rate is a measure of the net tax on labour income paid directly by the employee. In Canada, the average single worker faced a net average tax rate of 25.6% in 2023, compared with the OECD average of 24.9%. In other words, in

[Moemoney42]

Ya Packer it all sounds good on paper doesn't it... just like "budgets that balance themselves" right..? You fail to realise in that 40 years farmer Joe was probably on the bring of bankruptcy 10 times, scraping by with the help of his banker.  Many did go bankrupt, or if their banker would no longer float them a loan to put the crop in, they had no choice but to sell the farm

[packerdriver]

Hey, I can only comment on the "paper" I was handed.... After 40 years the guy retired with 3.5 Million in the bank. What are you suggesting??? That farming is so hard farmers should not pay tax? What about fishermen??? That's hard....huge capital investment, short fishing season. No tax? The farmer on the "paper" paid 15% of his capital gain in federal tax. 15% is what

[Red_Deer]

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

[Banshee]

You post many good comments but out of curiosity as you own as you have posted Utilities , penny mining stocks industrials , but never have you ever acknowledged owning any Energy stocks , so my question is what brings you here . Is your TM , pennypony or Telus or your bond portfolio too desd a site that you now are looking for an exciting site , that you want to use as a forum , that's

[packerdriver]

Still chasing our conspiracy theories, are we??? I don't know what I could copy/paste for you....or why I should.... if I could....(???) For commodities I normally enter and exit all positions at the same time. Last August I sold all my oil and gas stocks (7%) of my nest egg. I tend to keep track of what I sold and for what....I sold CVE for 26.16 In early February I noticed CVE was below 22..

[Red_Deer]

Hey BANSHEE__You REALLY Should NOT Have LamBASTED PACKER for Thinking  THAT You WERE Referring to HIM eh!!__As You HAVE ALWAYS Had the BAD HABIT of Not NAMING Whom You ARE Posting BACK TO !! I OF COURSE Knew You WERE Referring to ME__As We HAVE Spent the Better Part of the Past Decade POSTING on the TM Board Which You REFERENCED INDEED I do NOT Own ANY VRN__NOR Any More ANY OIL/GAS Producer

[Red_Deer]

Hey BanShee__I HAVE Already ANSWERED in DETAIL Your QUERY Some Days Ago And You NEVER DID Reply to MY QUESTION to YOU eh ??? ""So TELL Me UP FRONT BanSHEE__Are You POLITELY SUGGESTING that I SHOULD QUIT POSTING Here on the VRN Board eh ???""

[Banshee]

Never wrote you shouldn't post , just asked a question , if l want to take Packer to task , that's my call not yours as you have done the same many times in the past. The better part of a decade , really , has it been that long , WOW l would have been 61 and you on or abouts 75 . Bottom line when our generation is gone , it's going to be eons before you ever see the Boomer like again