Capital gains tax change goes into effect today

Jamie Golombek, managing director at CIBC Private Wealth, joins BNN Bloomberg to discuss the effects of the capital gains tax.

Connect with BNN Bloomberg:
--
BNN Bloomberg is Canada’s only TV service devoted exclusively to business, finance and the markets.

[funkspinna]

Decreased investment in Canada goes into effect today.

[RabidPanda]

so disgusting. what if you wanted to sell your retirement project and do something big with it. get screwed. the things youve been building your whole life. lost into trudeaus pocket and sent to ukraine. the fact they think most canadians wont have over 250k in capitals gains is sad..

[BudzzableRides]

Don’t start a business in Canada if you plan on growing it. Look abroad.

[lana-m]

The most important thing everyone should think about right now is how to invest in different sources of income that are not dependent on the government. Especially given the current economic crisis around the world 🌍 . This is still a good time to invest in various stocks such as gold, silver and digital currencies, I would like to thank John Preston for my crypto education..

[catherinedesilets]

Again if you own a small corporation any gain even $5.00 is now taxed at this higher rate
The $250, 000 is only if you are not a small corporation

[nimaakhtarkhavari]

Canada on its way to become the next Venezuela...

[ElainEmail-mq]

A loss of ONE Medical Care Professional leaving Canada devastates a whole town
Meanwhile, does a loss of ONE LIBERALS MP or the whole team of Liberals MPs devastate any towns in Canada?
Please kindly ask millions of Canadians who DO NOT have permanent medical care professionals and who do they want to keep in their towns?

[dootdoot]

why would you invest in Canada vs a dozen different options if the government will take 66% of it. the 50% was already bad. The USA is 20%. We played ourselves.

[crashtheimf]

Wheres the math for 66 percent. Did they omit a 6 666

[YamiPheonix]

You only get taxed if you sell the asset(s) and gain an earning minus your initial cost/investment/purchase price/etc.
If the richest Canadians don’t want to pay more in capital gains taxes then just liquidate or sell one asset or set of assets per year. Sell your stocks/holdings/positions for one year and sell your secondary property in another year.

[iosipescuu]

GOLOMBEK IS MAKING SOUND LIKE A DAY AT THE BEACH ....OUT OF TOUCH --- GOVERNMENT STYLE SPIN

[marchadwick]

It will help Canada to look like more like Cuba . Just like Cuba only our winters suck . Investment in Canada will drop . They are stealing your children's inheritance . Solman