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Originally Posted by Ashartus
I'm still trying to get my head around the implications of the capital gains tax changes, definitely not a tax expert. I work for an employee-owned firm and my shares are a fairly significant part of my retirement savings. I think with this change (presuming it isn't overturned after the next election) rather than selling all my shares at once when I retire I would be better off selling them over time so my capital gain doesn't exceed $250k in any year?
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I think the target is really investment properties, as you can't sell off a portion of your gain each year to keep it under $250,000.
The 0.13% number they're claiming it will effect is in any given year, because obviously the people with investment properties won't sell every year.
But the % of people who will at some point be hit by the increase, in the year they finally do sell or pass away will be much higher.
Particularly with the amount of equity wealth boomers hold right now and will be transferring generationally to their inheritances, that's the $ Trudeau wants his hands on.