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Canada's budget to increase taxes on the wealthiest, says source
(www.reuters.com)
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this post was submitted on 16 Apr 2024
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It's a start. Its a modest increase in capital gains inclusion (66% instead of 50%) for all capital gains over $250,000 per year
So, good, normal people won't be affected at all, but only super wealthy folks triggering a quarter million in gains every single year are going to feel any effect. And unfortunately, there's more than a few ways to just avoid triggering gains anyways.
Eh, at least it's a start.
Until there is action taken to tax loans using stock as collateral, nothing significant will happen.
You're right, and this is an excellent idea. If you're turning an asset into a cashflow, it should be taxable under all circumstances.