Quote:
Originally Posted by blankall
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.
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So then it becomes an actual disposition instead of a deemed disposition to reduce tax burden. Though increased housing supply is not a bad thing.