I don’t consider myself extremely intelligent. I do find the majority of the human population extremely stupid.
Home prices could fall up to 40 per cent: economist
- Thread starter B00Mer
- Start date
I don’t consider myself extremely intelligent. I do find the majority of the human population extremely stupid.
I don't know if anyone noticed but the 2016 tax return has a question on it that asks if you have sold your main residence in the year. If you say yes, then it goes on to ask how much did you pay for it, when and what did you sell it for and when. I'm thinking that this just may well be the beginning of perhaps government seeing how much they would have collected if the equity in the homes sold had been taxed. So I'm Leary and I'm wondering what is coming down the pipe!
What's coming down the pipe is a capital gain tax on the sale of your Residental property.
This is just the first step to get the paper process in place on the tax forms, the next step will be the cap gain tax.
The Libs are desperate to get more tax money to pay for all the refugees they invited into the country, now they are trying to figure out a way to pay for all their stupidity.
The plan is to tax rich people who could have used their extra income to buy a electric car.
So if smart folks would incorporate, and put their home under the corporation..
Taxes on Death: Shares of Private Companies
At some point the family will most likely still want to get the money out. Unless you can gain more than the legal costs involved there is no real point in doing all that work.
Legal costs.. $25 for a Nuans and $360 at your local CAA or AMA to Incorporate. Less than $400 to protect your assets..
That is only the start.Annual filing and accounting fees. There are also rules on living in a house owned by a corporation. You would have to pay fair market rent or be it is considered a taxable benifit.
We should tighten borrowing rules. Require a larger percentage as a down payment to start. That would help to reduce the occurrence of such bubbles in the future.
How so, Durry?
It would help to bring prices down, which in turn would make them more affordable to the same buyers. If they're all borrowing, then that just pushes prices up.
Here in the lower mainland of B.C. we are kind of stuck for usable land what with being on the coast and all . We also have such a thing as the agricultural land reserve which curtails building in much of the Delta and Valley . We are stopped in the south by a border and the north by mountains . We are growing in leaps and bounds with all the immigration and in migration . House prices aren't going to crash any time soon in this area .