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How much can homeowners expect to pay after capital gains tax increase? (www.youtube.com)
submitted 2 months ago by small_crow@lemmy.ca to c/canada@lemmy.ca
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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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[-] Kichae@lemmy.ca 44 points 2 months ago* (last edited 2 months ago)

“imagine being taxed because your mom died!”

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?

[-] Someone@lemmy.ca 9 points 2 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.

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this post was submitted on 19 Apr 2024
72 points (97.4% liked)

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