Quote:
Originally Posted by kipperiggy
I think that would end up hurting average joes more than the wealthy. But I don't have evidence either way and you bring up an interesting point.
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Housing used to be the way that average joes built wealth. Now the average joe can't afford a house and rents for much longer. Housing has become an investment, that in many areas of Canada, only the rich can partake in.
Many people are receiving massive payments from their parents to use as down payments on their own homes.
When the capital gains exemption came into place, this was never its intention. It was meant to allow working people to build up wealth, not facilitate tax free transfers between generations of the privileged.