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tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Should the government intervene?

Thu Mar 16, 2017 7:21 am

Educated people know that many technology workers are coming to Vancouver that need a place to live.

To the moon!
 
reallyreal2
Real Estate Talker
Posts: 687
Joined: Fri Jun 03, 2016 11:30 am

Re: Should the government intervene?

Wed Mar 22, 2017 1:47 pm

And so it begins.....

Calls to eliminate, reduce or amend the capital gains exemption.

https://thetyee.ca/News/2017/03/21/End- ... -Giveaway/

If they provided an exemption, this wouldn't effect most of the country but would be a major tax windfall... plus slow down the overheating markets... plus make housing more affordable.

The best is, it would slow down RE to the point realtors would have to get real jobs... LOL

Of course... the tyee is about as left wing as it gets so this first call to eliminate the tax comes from the least reliable source.  But gotta start somewhere.
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Should the government intervene?

Wed Mar 22, 2017 1:51 pm

^--------- irrelevant backyard website

With the new federal budget that came out today, billings more in housing per year and the broadway subway of course.

this year we're going to the moon!
 
2000sqft
Real Estate Talker
Posts: 38
Joined: Fri Jan 20, 2017 8:17 am

Re: Should the government intervene?

Wed Mar 22, 2017 1:52 pm

such a talk was existent for awhile already and they just announced the budget which did not include any changes there.....
To the moon and beyond!...at $2000 per sq ft
 
reallyreal2
Real Estate Talker
Posts: 687
Joined: Fri Jun 03, 2016 11:30 am

Re: Should the government intervene?

Wed Mar 22, 2017 1:54 pm

2000sqft wrote:
such a talk was existent for awhile already and they just announced the budget which did not include any changes there.....

First I am hearing of eliminating CGE.  Yep - budget made no mention of it.  Doesn't mean it can't happen in the future.
 
yzfr1
Real Estate Talker
Posts: 275
Joined: Tue Mar 19, 2013 8:35 pm

Re: Should the government intervene?

Wed Mar 22, 2017 1:55 pm

Lol.

I came in with the preconception to disagree automatically with you. Upon reading its actually something I agree with.

Need to own for 5 years maybe before tax exempt. Also limits on how much is tax sheltered. Like home owners grant. If you can profit over $1,000,000 you can afford some tax.
 
2000sqft
Real Estate Talker
Posts: 38
Joined: Fri Jan 20, 2017 8:17 am

Re: Should the government intervene?

Wed Mar 22, 2017 1:56 pm

reallyreal2 wrote:
2000sqft wrote:
such a talk was existent for awhile already and they just announced the budget which did not include any changes there.....

First I am hearing of eliminating CGE.  Yep - budget made no mention of it.  Doesn't mean it can't happen in the future.

I guess when it happens it will be good for everyones kids.....
To the moon and beyond!...at $2000 per sq ft
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Should the government intervene?

Wed Mar 22, 2017 1:58 pm

2000sqft wrote:
such a talk was existent for awhile already and they just announced the budget which did not include any changes there.....

Intelligent people who actually looked at the budget as it was released an hour ago made it pretty clear things are to stay the same and will not happen.   Unlike in the US, things in Canada are good the way they are without silly time nor dollar values on what people should buy.  

To the moon!
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Should the government intervene?

Wed Mar 22, 2017 1:59 pm

http://www.bankrate.com/finance/taxes/c ... ale-1.aspx
lol - americans have such a small limit its hilarious
 
reallyreal2
Real Estate Talker
Posts: 687
Joined: Fri Jun 03, 2016 11:30 am

Re: Should the government intervene?

Wed Mar 22, 2017 2:02 pm

2000sqft wrote:
reallyreal2 wrote:
2000sqft wrote:
such a talk was existent for awhile already and they just announced the budget which did not include any changes there.....

First I am hearing of eliminating CGE.  Yep - budget made no mention of it.  Doesn't mean it can't happen in the future.

I guess when it happens it will be good for everyones kids.....

Why do you say that?
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Should the government intervene?

Wed Mar 22, 2017 2:05 pm

reallyreal2 wrote:
2000sqft wrote:
reallyreal2 wrote:
First I am hearing of eliminating CGE.  Yep - budget made no mention of it.  Doesn't mean it can't happen in the future.

I guess when it happens it will be good for everyones kids.....

Why do you say that?

As usual, you miss the meaning
Some people believe that kids deserve a dirt cheap house
 
reallyreal2
Real Estate Talker
Posts: 687
Joined: Fri Jun 03, 2016 11:30 am

Re: Should the government intervene?

Wed Mar 22, 2017 2:14 pm

2000sqft wrote:
reallyreal2 wrote:
2000sqft wrote:
such a talk was existent for awhile already and they just announced the budget which did not include any changes there.....

First I am hearing of eliminating CGE.  Yep - budget made no mention of it.  Doesn't mean it can't happen in the future.

I guess when it happens it will be good for everyones kids.....

Would it effect the kids at all? 

Parents pass away and there is a smaller pie in the inheritance.  Smaller DP on cheaper house (CGE eliminated) or bigger DP on expensive house (CGE as is).  Pick your poison.
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Should the government intervene?

Wed Mar 22, 2017 2:16 pm

billions for new housing per year! to the moon!


http://globalnews.ca/news/3328103/feder ... al-estate/
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Should the government intervene?

Wed Mar 22, 2017 2:18 pm

reallyreal2 wrote:
2000sqft wrote:
reallyreal2 wrote:
First I am hearing of eliminating CGE.  Yep - budget made no mention of it.  Doesn't mean it can't happen in the future.

I guess when it happens it will be good for everyones kids.....

Would it effect the kids at all? 

Parents pass away and there is a smaller pie in the inheritance.  Smaller DP on cheaper house (CGE eliminated) or bigger DP on expensive house (CGE as is).  Pick your poison.

educated people know there are no inheritance taxes in Canada
 
reallyreal2
Real Estate Talker
Posts: 687
Joined: Fri Jun 03, 2016 11:30 am

Re: Should the government intervene?

Wed Mar 22, 2017 2:34 pm

for those of you that don't understand what happens at death....

http://www.cra-arc.gc.ca/tx/ndvdls/lf-v ... u-eng.html

in other words, the estate has less money to distribute.  This might be complicated for some of our resident posters that had to take a two week course and multiple choice quiz to get licensed.

Most of you should understand this quite handily.

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