Quote (duffman316 @ Aug 31 2020 12:51pm)
Forgot we had folks left of fender 🤔
What do you make of otoole
Compeltly unqualified right now say. Iv given little attention to Canadian politics outside tax changes and I'm most interested at a personal level. Large changes to corporate taxes on entities above 15 million in working capital don't interest me since that group has never been my target group.
In the area of personal taxes he's saying the system needs revamp due to it being diluted and complex. Personal tax is not complex even to an average individual. People just don't give the time of day to learn it. Id like home to elaborate on exactly how he is going to simplify it.
I find that wealthy individuals in Canada don't have that much more advantage with the exception of being able to purchase expertise. There's minimal tax schemes that an average person could engage in and the average person simply dosent have the wealth to make it even worth their time to discuss such schemes with an advisor. Harbouring money in Canadian corporations and personal hold cos is dead since investment income over 100k is now taxed at the highest rate so you can't harbour money anymore and pay low tax rates on it just maintaining mass wealth in estates and personal hold cod in Canada anymore.
TOSI also made it an absolute bitch to income split. Using your partner as a 50% owner and shoving tax to a lower earner. Now cra actually ensures they engage in business activities that warrants them getting the payout and they absolutly do check.
I look forward to what he has to say though non the less.
He has made good comments about childcare and maternaty leaves, (child care benifit weaves it's way into tax)
Long story short I don't pay attention except tax.
Clargary and Edmontons commercial and residential housing have bounced back but commercial not near as much. Should we start buying commercial realestate duff?
Or should we go with the flow and start buying outer GTA areas in hopes of better transport infrastructure. Barrie for instance.
This post was edited by SBD on Sep 1 2020 09:34am