And not just when you sell.The liberals will be looking for sneaky taxes to put in to over the huge debt they have run up.
l had heard of the plus a tax on the increase value of your home slightly below net gain year to year on the increasing value of your principal residence.
I saw the same thing and basically he was saying those who own a home and paid it off have an unfair advantage over others. I can't recall the words he used but I remember saying fuck you. I worked my ass off to buy and pay it off early so the bank didn't rape me with interest.I watched Trudeau make a statement a while back that owning a home is like winning the lottery and basically not fair to those that dont own a home.
my parents sold their home about four years ago. Owned since 1998. About a year after selling gov was after them for capital gains tax cause long ago they were in the usa for a year. They had to prove they were back home five full years before selling. Dragged on for a long time.
only property they owned, for twenty fucking years.
yeah, its coming.
you will own nothing and be happy. Get used to it.
Exactly. Time to pay the piper.I saw the same thing and basically he was saying those who own a home and paid it off have an unfair advantage over others. I can't recall the words he used but I remember saying fuck you. I worked my ass off to buy and pay it off early so the bank didn't rape me with interest.
This concept has been bounced around regarding taxing sales of homes but I don't believe it is in yet. Knowing the laws the Liberals are passing without resistance that take away basic privacy and rights, it won't surprise me if they do it. Think of the money that was doled out for Covid and the billions spent - who do you think is going to pay for it?
How would they achieve this? Annual property valuations or simply using property sales in your given area to calculate appreciation? Either way, that's effed up.And not just when you sell.
I have read the statemnts that say these policies are for homes owned less than a year, but reread my post.. No where does it say anything about it not being for every home sale..the idea is to cool the housing market by reducing home flipping by increasing the time you have to live in it before being exempt from taxation. Liberals havent even banged out a policy out yet so i suspect the hysteria will kill it before election time.
no where does it say its not not being for every home sale. i dont understand.I have read the statemnts that say these policies are for homes owned less than a year, but reread my post.. No where does it say anything about it not being for every home sale..
My understanding is you would start with a standard home evaluation and if homes increase by 12% across the country on a whole then they would use say 10% to calculate tax on the increased value of your home.How would they achieve this? Annual property valuations or simply using property sales in your given area to calculate appreciation? Either way, that's effed up.
Sorry, bad wording..no where does it say its not not being for every home sale. i dont understand.
i understand. the purpose of pierres post is to create a hysteria to go against the Liberals election. its dishonest but thats how thing go today. i understand the Liberals point of view on this but dont use me as your anger punching bag. ive moved into several properties for the minimal amount of time to avoid taxes and am drooling over Calgary properties that are plummeting.Sorry, bad wording..
What I posted implies its for every house sale, not just homes that have been owned for less than a year.