Quote:
Originally Posted by I_H8_Crawford
So why not tax capital gains on primary residence sales too then?
Over the past 10 years, people have made a LOT of money selling their homes, and that is all tax free... With ~ 75% of Canadians owning homes, that is probably worth FAR more tax revenue for the government than the current TFSA limits.
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Houses are generally people's main investment and a change would affect the majority of Canadians, why would you want to mess with that? TFSA's are a secondary investment vehicle, well used at the $5000 level but much less so at $10,000. Rolling it back is simply a choice to prioritize programs that benefit more people.