In another of former Minister of Finance Joe Oliver's sobering contributions to the Financial Post, he has outlined the absurdity of even thinking of tinkering with the Capital Gains Tax exemption. This has various repercussion and would impact every Canadian directly in their own portfolios, savings, future pension values and the Canadian dollar...NOT JUST THE RICH (as the Liberals like you to believe in their smoke and mirrors, everything-for-the-middle-class approach).
As Canadians we have only one major tax-free vehicle to attain wealth. That is, our primary residences. As we scurry under rocks to protect ourselves from further random lightning strikes from the sh!tstorm cloud filled Liberal skies, where will savings and capital go? To the last bastion of tax free relief - the housing market - which will only drive up housing costs even further.
The Liberals have been at the helm now for almost a year and a half with no more clarity on what the final deficit will be (except likely to be higher) nor when will be able to pay off (well, we know the answer is no).
Unfortunately when you mention "Liberals" and "taxation", it has more of a connection like "wine and cheese", not "oil and water"....oh right, the Liberals really don't like oil.
Happy March 22nd...Like Father, Like Son
http://business.financialpost.com/fp-comment/joe-oliver-drunk-on-spending-the-liberal-governments-too-addled-to-see-the-idiocy-of-raising-capital-gains-taxes
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