Liberal candidate says tax on sale of your home is coming....

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Originally Posted by mosquito

Well in the last 4 years they have added over a million new immigrants to Canada, probably mostly in Ontario and Quebec.

Then the Liberals say that they want to increase the 410,000 immigrants (double what was usual a decade ago) to 430,000, during COVID to make it more interesting and we have a housing shortage, soaring inflation, interest rate increase soon.... what could go wrong.

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Immigration is now one of the biggest problems in the country. The housing crisis will increase with our countries worst Immigration policies thanks to federal liberals.

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Originally Posted by GloryHole

Yeah okay, maybe if they're senile, why would they surrender the nest egg to bailout the silly kids that paid a million dollars more than the actual value of the house.

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That one is pretty simple to answer, the nest egg is making less than a .5% in a GIC and the money is not really being used. Helping the family who will be paying 2,3 4% is a no brainer. I know of nobody who has paid a million more than what a house was worth. This is Capitalism supply and demand, all the good stuff you guys like.

Any taxes assessed against real estate profits are quite clearly a shameless cash grab. All real estate that's not commercial is paid for in after-tax dollars. It's nothing more than a glaring Liberal Party implementation of socialist/communist wealth re-distribution doctrine they've been espousing for decades.

Stress test in the past was much easier.

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Originally Posted by Gilroy

I do not see a whole bunch of folks losing their homes, the stress test for mortgages has been in place for years, baby boomer parents of these folks will bail them out if things get drastic.

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Originally Posted by Gilroy

That one is pretty simple to answer, the nest egg is making less than a .5% in a GIC and the money is not really being used. Helping the family who will be paying 2,3 4% is a no brainer. I know of nobody who has paid a million more than what a house was worth. This is Capitalism supply and demand, all the good stuff you guys like.

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Well I guess you're right about that depending on how much you'll be penalized on the shuffle. I'm referencing a Pierre Pollieve FB post where a home sold in Bowmanville for 694,000 in 2018 and recently sold for 1.6 million without any upgrades.

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Originally Posted by trimmer21

Any taxes assessed against real estate profits are quite clearly a shameless cash grab. All real estate that's not commercial is paid for in after-tax dollars. It's nothing more than a glaring Liberal Party implementation of socialist/communist wealth re-distribution doctrine they've been espousing for decades.

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Any party in power is going to tax you, I, am about to be taxed on my pension from abroad by the Canadian government, I contributed with after tax dollars here, sent it abroad and its about to be re taxed. I won't be getting even a kiss from the CRA, not even allowed to claim it as a tax deduction at any stage.