Quote:
Originally Posted by OldDutch
The #1 debt item in this country is housing. Something the government controls a fair amount of influence over. Multiple governments have let this run rampant for election reasons. In the end it screws everyone over except those receiving inheritance (oh wait government will take 50% of that, which is conflict of interest but another matter)
So to just say irresponsible spending is the reason for so many Canadians barely meeting ends is simplistic. If I was a 20 something in Vancouver or Toronto Who bought a house I probably strongly disagree my problems are my own making.
The government absolutely owns this. Not in whole but in major part. Their interests have caused huge equality problems in Canada (despite their claims to close that gap)
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Please Elaborate - There is no inheritance tax in Canada and you don't report it as income, so what exactly are they taking 50% of?
The estate would dispose of assets at the time of death, but that would be normally taxed but not at 50%...