Well, well, well…
From the Taxpayers Federation
Despite repeated denials last summer, Canada Mortgage and Housing Corporation paid $250,000 for a study that would include an examination of “tax policy that privileges home ownership,” according to documents exclusively obtained by the Canadian Taxpayers Federation.
In Canada, homeowners do not currently pay tax when they sell their primary residence, the home they are living in.
Last summer, a story from online news site Blacklock’s Reporter stated the research was examining the idea of a home equity tax.
In the wake of the story being published on Jul. 17, 2020, both the CMHC’s communications department and then-CEO Evan Siddall issued multiple statements about the story being false.
Siddall directly attacked the reporting and Blacklock’s in multiple statements.
A series of emails between Kershaw and Siddall were also obtained by the Taxpayers Federation. They show Siddall was aware of the focus on home taxation changes before the study even received funding.
Read the whole thing.
Given that the Canadian government is now funded by money printing and debt the only reason for this additional tax is to punish home ownership. You can use your imagination as to why that might be.
Well the money has to come from somewhere to pay for all of Adolf’s grand global warming schemes. With the 250 million dollars pledged for rural transit by Barbie, I can’t wait for the subway station to be built across from my farmhouse.
The money will come from:
a) higher carbon taxes
b) taxes on vehicles with internal combustion engines
c) taxing pension funds and RRSPs via a wealth tax
d) taxing sale of primary residence
e) wealth tax on all property over $1 million
I don’t believe e). shall be $1million
They going to come after everyone living in a house worth more than $150K
Most homeowners have their home as the central point in their financial holding. A home is a saving vehicle to fund the home owners in their retirement. All the money paid in property taxes over the years, and the costly maintenance of a home are all partially returned by the homes accumulated value as time passes.
Take that away and you will have millions more homeless seniors, you fucking assholes. Pardon my French.
Further, home prices will inflate as owners try to recoup the theft by the up-coming home owner tax.
Financial success is no longer cool for the commoners.
You do not understand – that is a “feature, not a bug”. With the -19 experiment, the government has successfully killed off old people who cost too much money. They cost in terms of CPP and OAS and in terms of increased medical costs.
I hate my government. I know it hates me.
Siddall should be caned by Mark McGwire.
CMHC is an anachronism. Close it down along with 90% of the federal bureaucracies and crown corporations.
A tax on home equity is a declaration of war and I don’t mean that figuratively.
Not to worry! Kenney will tweet about it and O’Toole will…will…umm. What the hell does O’Toole do?
“The rules are simple; they lie to us, we know they’re lying, they know we know they’re lying anyway, and we keep pretending to believe them.” Elena Gorokhova.
No biggie. Just a little grifting while they wait for
ChinaIMF to offer us help with our debt. That’s when the fun will begin.Post National State. Hold out your arms to the side, palms up, close your eyes and breathe deep, let it flow through you…you’re a citizen of the world now.
So we’ll be able to deduct mortgage interest then right? Right? Hello…anyone? Buehler?
Nope, nor will we be allowed to deduct any renovations we put into said home. They tax us when we’re born, when we die and the air we breathe.
And of course we will be taxed on inflation gains in the value of your house.
George Harrison covered it pretty well in his song, “Taxman”.
I’ve been hearing little bits about this for a few days, starting with a G&M editorial calling directly for a capital gains tax on principal residences. I have yet to hear anything from O’Toole or anyone in the CPC. This seems like an easy one for anyone with an IQ over 20.
Justine’s communism isn’t cheap, I sold my home two years ago and last year I had to include the sale price on my income tax. Oh they’re coming for any profit you make on your home, never mind I spent 80,000 in renovations I never recouped.
I get a comfortable income from my inheritance. I can claim tax credits for the dividends I get, but, apparently, I’m not entitled to the entire amount because that’ll put me below the minimum tax that I supposedly am required to pay.
Yeah, that’ll teach me for not being rich like Bill Morneau and qualifying for all sorts of tax loopholes which would reduce my net income. One tax bracket for me and one tax bracket for thee…..
L – Canadian Court Room Drama 2021 –
“Do you (insert name) swear to tell the truth, the whole truth and nothing but the truth, so help you God or affirm the same?”
Woke Gov’t. witness, finally forced to testify: “Truth ? The Post-Modern interpretation of “the truth” is: a) My truth(differs from yours). b) There is no such thing as truth. There is only power. c) Your question is oppressive and part of the Colonial, white supremacist British Common-Law system, based on the Judeo-Christian concept of individual rights. No one is allowed to express such a belief, as it contradicts collective/group rights and is now classified as Hate Speech. Officer, arrest that man !”
Their Chicom masters want the nice houses, they’re not for us they’re for them (the nicest houses slave labour can buy). We should not be upgrading, we should be renting like the German peons.
Build Back Better. You will have nothing and be Happy.
That’s right, and if you don’t like it, you can be helped with an assisted suicide.
I am starting to see the wisdom of the Gypsy lifestyle.
National Parks look real good.
Where is the best home for feral Canadians.?
Toronto or Vancouver. Best free handouts around. Warmer weather
To the liberals it’s like shooting fish in a barrel an untapped source of revenue.The question was added to the tax return about 3 years ago “did you sell your home during the year” Anyone with an I.Q. above 12 knows full well the government plans on putting this through and if pretty boy wins the upcoming election the capital gains tax will come into effect in 2021
I am familiar with familiar with UBC professor Peter Kershaw’s work and his Generation Squeeze lobby group, having assigned his book to a university class 10-12 years ago as a class essay topic. Essentially he says that younger generations are poorer than older generations (he’s right there), but he blames that well-known fact on government policies. But he is wrong on the latter cause. Young3r generations are poorer because they start professional careers and families later, and start saving and buying houses later.
So Generation Squeeze advocates ending special tax breaks for seniors, and levying taxes on homes equity and capital gains taxes on principal residences. The lobby group is funded by big corporation and governments. It has few members.
If the federal government were to tax home ownership, this would create an outcry among home owners, this despite the poor organizational strength of conservative groups and ike-minded media. I agree that Erin O’toole is too timid and anti-conseervative to lead any opposition against the tax grab.
We already pay home equity taxes. They’re called property taxes and they go up in two ways, usually every year. House price increases and mill rate increases.
Shrug. A majority of Canadians are too focused on CNN to worry about homegrown shit like this.
People were told.
Lemme guess, Alberta houses will be the highest taxed.
Unless the Laws have changed, mortgages are typically recourse loans everywhere in Canada other than Alberta and Saskatchewan. Correct me if that has changed. https://albertacrisis.wordpress.com/2019/01/04/alberta-nonrecourse-mortgage/
No CHMC involved….good to go in AB and Sask. Leave the keys in the door, walk away. Roxham Road types don’t have any money, so the banks have to find a real buyer with real cash for that property.
Seen this movie before. BC shot themselves in the foot airing the same idea back in the early 90’s, even thinking of taxing you on your equity gains before you sold. Annually. Oops. They forgot who the biggest home owners were and in what parts of town they lived. Usually where Property Taxes were highest. Shocked silence from our “betters”. Dropped like a hot potato. Snivel Serpents of all stripes hate getting screwed by their own. They makeup better than 40 odd percent of “paying taxpayers”. These days with the influx of “foreigners” jacking up demand and house prices, while becoming “non resident” at the same time and dropping that “anchor baby”, that percentage is north of 50% today. Think Lebanon back when they screamed about “service” while earning a tax free living (to Canada) back in Lebanon. It doesn’t matter what the House Hornies, collecting SERF, I mean CERB, say or do. They are expendable to contract. Banks own them….forever, today. Oh, and the money borrowed from Mom and Dad to buy the gazillion dollar “home” …..that’s gone, too.
We’re back in 1980 again, broke and in debt to the eyeballs. Guess WHO was PM? Interest rates haven’t caught up today, yet. “We’ll inflate to get out of it”, ’cause oil/gas is “Globble Warmenting” now. Greet some of your new neighbors/roommates at Roxham Road. That never stopped while you got locked down.
Man, Time Travel is real. Tax Time is 31 days away, too.
Blackie was “doing it for you”, so you wouldn’t suffer. With whose money? How much was taken up by the Trudeau Foundation?