this post was submitted on 19 Apr 2024
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TL;DW

If it's your primary residence, zero.

If it's a revenue generating secondary property, an extra 20k for every 400k of gains.

I love that the "wealth manager" they interviewed is making such a big deal about how it will affect people who would never have need of his services because they'll never have wealth, let alone enough to need management. Playing up the "imagine being taxed because your mom died!" angle.

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[โ€“] Kichae@lemmy.ca 44 points 7 months ago* (last edited 7 months ago) (3 children)

โ€œimagine being taxed because your mom died!โ€

Imagine being taxed because you sold your mom's house, months or years after she died.

What next? Eliminating property tax because the property was once owned by someone who has since died?

[โ€“] xmunk@sh.itjust.works 11 points 7 months ago

But I have fond memories of ~~my mother~~ imagining how much money I'll make selling this house.

[โ€“] Someone@lemmy.ca 9 points 7 months ago

Jokes on him, I'd pay nothing because that's my only hope (very much for lack of a better word) at owning my own home.

[โ€“] corsicanguppy@lemmy.ca 6 points 7 months ago (1 children)

Imagine

Imagine a new lead-in. The fleek litchally base lul crowd has overused that phrase so much it's now a misophonia trigger.

you sold your mom's house, months or years after she died

But it wasn't her house. Shortly after mom passed on, it'd be Your house. That's how inheritance works.

[โ€“] Kichae@lemmy.ca 6 points 7 months ago

Shortly after mom passed on, itโ€™d be Your house.

Touche.

Imagine you sold your spare house, months or years after your mother died.