Veren Inc T.VRN

Sorry, Reddeer....call me still unconvinced...

[packerdriver]

You say "farm" and I think Ma and Pa Kettle posing with a pitch fork and I feel all warm an fuzzy...but the math IS the MATH !!!

5,500,000 today - 150,000 in 1971 = gross capital gain of 5,350,000
Less 1.25 million one time exclusion of ANY tax leaves 4.1 million adjusted gain
50% of first 250k =125,000
66% of balance = 2,623,500
(IF the higher inclusion rate ever becomes law)
Total taxable = 2,748,500

If "Farmer Joe" gets good advice he'll trigger the sale in early January so he has no other income that year and he coud run that amount of tax through all five tax brackets but I'll be lazy and just go with the max bracket of 33%

2,748,500 @ 33% = 907,005 tax owing/payable ( 16 months later if sale happens in January)

907,005 is 16.95% of his capital gain of 5,350,000 (STILL a lower % rate than working income)

It's hard for me to feel bad for "Farmer Joe" when he's got almost 4.6 Million sitting in his bank account when it's all done. (Federal tax only of course....but he's in Alberta, the lowest taxed province anyway)

[Red_Deer]

Hey PACKER__OK!!__NO Sympahty for Farmer JOE eh !!!! Well HOW ABOUT Me With my 1990 Telus IPO Shares Back in the Day ALL of US USED to HAVE a Capital Gains Tax BREAK on 500K too ALONG With Farmer Joe BUT That Was First REDUCED in 1988__And Then REPEALED Totally  in 1994  https://objectivefinancialpartners.com/understanding-the-1994-capital-gains-tax-election-2/

[packerdriver]

1990 IPO Telus shares???? I wonder why you didn't sell them three years ago when they were well above 30 bucks a share??? Couldn't stomach paying ALL those capital gains taxes???? Maybe you should sell them now that T is below 20...... you'd pay way LESS in taxes!!! ;););) Make you feel any better? As Kenny Rogers used to say: "Know when to hold 'em, know when to fold 'em

[Red_Deer]

""Couldn't stomach paying ALL those capital gains taxes????"" Hey PACKER__INDEED Have ALWAYS BEEN Petrified at the PROSPECT of  the Taxation of the ""GAINS"" Since the 1990 IPO__The $12 IPO Price With TWO Share Splits Makes for a COST BASE of ONLY $3 Telus Has BEEN a RELIABLE Dividend all These DECADES__Currently Almost a THIRD of My Total

[Seppelt]

Great math. But here are a few questions. How many hours does a farmer work in a day, week or a year. What would be his average hourly wage? Is he getting paid sick days, at least 20 days a year or more, often demanded by public sector unions.  How many statutory holidays a year he is entitled to so that he can have a rest while enjoying a check in the mail. Is he getting paid vacations so

[Red_Deer]

SPOT ON SepPelt__This Is WHY Most Farms are NOT PASSED on in the Family ANYMORE None of Farmer JOE's Sons or Daughters WANT the Farming LifeStyle ANYMORE__And IF They DO Then It is TOUGH to FIND a WILLING Partner to MARRY I SAW All THIS With My IN LAWS Farms

[packerdriver]

It sounds like you think farmers are real hard done by and should pay a lower capital gains tax than everybody else....real hard done by.....https://agriculture.canada.ca/en/programs

[Red_Deer]

""It sounds like you think farmers are real hard done by"" Hey PACKER__How About THIS All TOO Frequent SCENARIO for Farmer JOE After WEEKS of Long Hours of WORK__His CROP is Coming Along VERY NICE Looking to BE a BUMPER CROP on the Way__Having CHARGED on His ACCOUNT ALL the FUEL, FERTIZER, CHEMICALS @ His Local SMALL BUSINESSES So Farmer JOE Sells His Crop INTO the Futures