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 […]
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    • Nomecks@lemmy.caEnglish
      23·
      5 months ago

      $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.

      • lengau@midwest.socialEnglish
        6·
        5 months ago

        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.

        • Nomecks@lemmy.caEnglish
          1·
          5 months ago

          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.