OTTAWA – Wealthy Canadians have begun a ‘Freegains convoy’ to Ottawa in their BMW X3s in protest of the government’s plan to raise the inclusion rate on annual capital gains in excess of $250,000.00 dollars. “Not since the city of Toronto tried to build affordable housing in Rosedale has our community been so united in […]
$250k in capital gains has very different implications from $250k in salary.
$250k in cap gains represents about a million dollars of gain. That’s not enough to retire for most Canadians and is definitely attainable by a lot of workers.
I’d love a million dollars in gains in a year…
Heck, I’d love to have even half a million dollars of total assets.
If you have a million dollars in gains for ONE year, like you sell an asset to retire, you get hit. I agree, multple years of $1m gains is excessive.