Gotta say man, I really appreciate your channel. As an immigrant who moved to the country 5 years ago, your videos have made it really easy for me to get a hold on my finances. I don’t have to go crazy trying to figure out all this stuff for myself. Especially with all the strategies you discuss. I’m still watching your old videos to help me each step of the way. Thanks for this! And I hope this channel stays up for a long time!
7 months ago
| 1
Hey Adrian, thank you for all your excellent videos that provide us with a wealth of information. I've greatly benefited from all the knowledge you've shared. I'll be impacted by the Capital Gains Tax change when I plan to sell my rental property next year. I'm forecasting the gains to be ~400K, and I can't delay the sale any further as I feel the property has reached its appreciation maturity. The only ray of hope is if I can add my spouse to the property's title because I noticed you acknowledging someone's comment on Blossom regarding the 250K cap for each partner and the 500K cap in total for jointly owned properties before the 67% inclusion rate kicks in. Strangely enough, when I moved my mortgage from one financial institution to another back in 2021, my spouse was added to the mortgage but not on the title. So I'll have to figure out how to make this right. I am currently on the lookout for proper tax counsel to guide me through my predicament.
7 months ago
| 1
it is an indirect new tax on healthcare, home building, and food supply that will effect everybody negatively. in a country that is already one of highest tax places in the world
7 months ago (edited) | 1
I think directly it won't affect most but indirectly it affects everyone. The economy needs support but this only makes investment worse.
7 months ago
| 2
Renouncing US citizenship this year and moving investments from US to Canada. Has been impossibly difficult to arrange the in-kind transfer in the non-registered account (Questrade doesn’t have a phone number for transfers?!? and the US brokerage only wants to coordinate over the phone) and it’s looking like just realizing all the gains and starting fresh might be easiest. Will cross the 250k cap gains threshold if I do so.
7 months ago (edited) | 0
Not rich to get affected by this law. Living pay cheque to pay cheque.
7 months ago
| 6
I think most people think about themselves ONLY when analysing policy or voting. Capital gains policy affects large investors and businesses which means they would chose to invest in the US and not in Canada. We already have monopoly in grocery stores and everything else. Capital gains will affect all of us especially us who live paycheck to paycheck. It's not about having a home to sell or shares... It's beyond that... I think
7 months ago | 1
For me, I am option #4. I own two corporations, one of which I invest inside and thus I will face higher capital gains taxes when I sell
7 months ago
| 6
Based on the results of this survey. Predominately salaried individuals watch this channel.
7 months ago | 1
@canadian in a t shirt…I’m a newbie to Canadian investing landscape..and I’m curious to know which one is better between Wealthsimple and questrade..in terms of understanding the quirks of operating the accounts..(TFSA and RRSP etc)..I would much appreciate your inputs..TIA
7 months ago
| 1
I dont want to say Nope not affected. The law is in place and if it isnt reversed i imagine by the time i retire i would hope to have a 250k capital gain
7 months ago
| 1
Hmmm. When I inherit my parents home,,,,I will sell my personal residence and move into their home. Problem solved.
7 months ago
| 1
I'd like to be wealthy one day... this does not help my journey
7 months ago | 0
The gov is getting ahead of the curve my parents generation will pass along a huge amount of wealth as well as crypto and housing another let hurt the middle class and upper middle class with this big increase just when you thought you were starting to get ahead
7 months ago
| 0
Achieving 250k in realized capital gains in 1 year is challenging .
7 months ago
| 1
I have four rental properties and I'll be affected when I sell them if the profit is bigger than 250k.
7 months ago
| 3
Why 250k? Isn't it 66% on capital gain? So at soon as you do capital gain outside resp, reer, you are affected
7 months ago
| 1
So many people complained, yet i doubt that even half a them have an asset that is worth 250k or more. So why are they so bitter about it? 🤷♀
7 months ago
| 5
Canadian in a T-Shirt
Hey guys! Check out my latest video on the 2024 CAPITAL GAINS TAX Increase which takes effect in a few weeks, on June 25. There is a TON of misinformation and outrage out there regarding this (some sincere, some not) but I wanted to hear from YOU guys!
How many of you will be affected by this increase and how?
Please vote down below 🤔and feel free to share your situation and numbers. I am genuinely curious how this will affect you guys! 🙏
7 months ago | [YT] | 41