Canada Raises Taxes on Capital Gains !!

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Summary of this video:

💰 Canadian government's new tax policy on capital gains

- Canadian government is increasing taxes on capital gains, targeting individuals earning over $250,000.
- The inclusion rate for capital gains above $250,000 is rising from half to two-thirds, resulting in higher taxes.
- The tax hike is primarily aimed at the wealthy to fund social programs like national dental care and PharmaCare.

🏦 Impact on taxpayers and criticism

- Individuals, trusts, companies, and large corporations making substantial gains will be affected by the tax hike.
- Pierre Poilievre opposes the tax increase, arguing against further taxation, citing previous tax hikes like the carbon tax.
- Historically, Canada did not have a capital gains tax before 1972, indicating a trend of increasing taxation over time.

🌎 Advice on relocation and alternatives

- Rising taxes and governmental control in Canada are prompting suggestions to relocate to countries with friendlier tax policies.
- Suggestions include moving to countries like Mexico, Panama, South America, Europe, or the UAE for lower taxes and better business environments.
- The speaker warns of potential future restrictions on wealth and taxation, urging Canadians to consider their options wisely.

DISCLAIMER: This video is not tax and/or financial and/or investment advice. Any information or advice I give is purely based on my own experience and research. I am not a tax professional and/or lawyer and/or accountant so I am not liable for any steps you take to lower your taxes. I'm not a financial advisor nor do I pretend to be. Always do your own research.

Видео Canada Raises Taxes on Capital Gains !! канала Wealthy Expat