Quote:
Originally Posted by snootchiebootchies
There is kinda already a death tax, right? When someone passes away, all of their properties and investments are considered to have been disposed right before their death, and thus the estate has to pay taxes on the capital appreciation of all their dispositions before it is inherited by someone else.
If you're calling for an estate tax like what they have in the US (I'm not sure the US federal estate tax will survive a Trump presidency), I can't imagine something like that could pass here. It would be seen as being too socialistic. Moreover, it encourages a bunch of financial shenanigans (hiding money overseas) rather than the continued investment into the Canadian economy, even after one has retired.
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There are ways around this tax disposition currently with specific types of investments and ways to hold them.
I don't think we're likely to see the implementation of an estate tax at this point because it would be political suicide. The baby boomers and their heirs are not going to be in favour and they're an enormous voting block between them.