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Old 10-08-2019, 08:25 AM   #50
Fuzz
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Scheer's letter — which is now being circulated at the riding level on Conservative Party letterhead as campaign literature — warns of "an alarming proposal that has leaked from inside Justin Trudeau's government," saying that its source was Toronto MP Adam Vaughan, the Liberal's special advisor on housing and urban affairs. It details a "sliding scale" of capital gains tax on home sales — 50 per cent after one year of ownership, 25 per cent after two years, 15 per cent after 3 years, 10 per cent after 4 years, and 5 per cent after five.

https://www.cbc.ca/news/politics/the...312873?cmp=rss


Ignoring the part where the Conservatives blatantly lie about this, is this a good policy? I was thinking it is not, mostly because if you sell your principle residence, you are probably also buying another one. You get the gains from the sale of your house, but you are also buying a house that has appreciated. It's a lateral move. But if the government taxes that gain, you end up potentially losing money. What if you just bought a place, and have to move for work in a year or 2? The government makes money, and you lose. I don't like it.
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