O'Leary Calls out Wynne - NF

[manitoubass2]

 

Canadian Security Establishment Canada (CSEC)

Miigwich!

[Garnet]

Get over what was.

 

Now we have no party representing me.

 

And div. outside your RRSP/TFSA are taxed at 19-23 %.

 

Go Minority Government.

[Canuck]

Another example of how bad increasing capital gains rates is. So you saved and saved and bought yourself that place on the West Arm back in the 80's or 90's. Paid $100,000 for it. Now its worth $400,000. Nice investment. Naw, Trudeau has decided that you are now too well off. You need to share your little windfall with him and Kathleen when you sell it or pass it on to your kids. So lets say you are in lower tax bracket at say 30% tax rate. Here is the math:

 

Capital gains tax on the camp using todays rates $300K gain x 50% included in income X 30% tax rate = $45,000 tax.

If they raise the capital gains inclusion rate to 75% -- $300K x 75% X 30% = $67,500 in tax.

 

So that is $22,500 more you are going to have to pay in tax if he raises the inclusion rate on capital gains. Oh, and don't forget, some of the "gain" is actually just price inflation, not true "income". CPI in 1990 was 78.4, 2015 it is `126.6. So the $100K in 1990 is worth about $162K today. So $62K is not a real economic gain, but you are taxed on it.

 

Still like that paltry $500 savings on your 2016 tax return?

 

Trust me, we are all paying VASTLY more in tax with a Liberal Federal and Provincial government. VASTLY more. Just wait and see.

Edited March 10, 2016 by Canuck

[Garnet]

Who is representing you.

 

Not the PC they ran Harper widely despised back door slime ball.

 

PC Ont ran Hudak who couldn't beat a widely despised Dalton. And hired this next weasel.

 

Go Minority Government.

 

The only way middle class gets a break.