Is George Weston Ltd a small business?

What defines a small business? Their revenue or how many people they employ? I could employ 5 people and have 50mil in profit each year I'm still a "small business"

@@butwhytharumi think you are considered small business if your revenue is less than half a mil.

Duh, if there’s a capital gains then a business cannot by definition be bankrupt.

@@shaq9361 Right...none were supposed to survive that.

PP doesn't have a background in finance either and he doesn't understand how this change to the inclusion rate works so he would be another clown if we elect him.

@@pacman3556 PP isn't being elected to be finance minister

She has an enormous amount of education and experience, including running a substantial news bureau in Canada. The question is whether her IQ is 2 or 3 x yours. Stick to something you know something about. Whatever that is.

@@spiderjerusalem6887 doesn't matter he is running to be our leader. He should have an understanding of how our tax laws work and basic financing. He also doesn't know basic things like what level of govt is responsible for what. For someone that wants to lead our country he should have knowledge of what is federal jurisdiction and what is provincial or municipal. For someone that has been in politics most of his life he sure has very little knowledge and hasn't really done a thing for us.

@@DavoZed Stop shilling for these criminals.

it is not a tax. It is a change to the inclusion rate on capital gains. Restaurants don't make their money to survive by capital gains. They make their money through the sale of food which is 100% taxable income. So this change has nothing to do with restaurants or their operating margin.

Where are there restaurants selling plates for $250k each?

@pacman3556 isn it still taking money from them.??? Than ya its a tax... stop it trudy

Restaurants are NOT going to pay the capital gains tax unless they are sold. Why comment on something you haven't a clue about?

@@ebug80-oh3bm the govt is taking money from small business owners the same way they take money from everyone. The govt has been doing this under all parties since Canada was founded as a country. However they are not taking money from them as a capital gain. So wtf does your comment have anything to do with the liberals at this specific point in time or the change to the inclusion rate on capital gains?

I agree, they need to get rid of the million dollar capital gains deduction, tax-free income for small business owners, thanks for the reminder

Isn't all taxation

how is making the rich pay their fair share criminal? Letting rich people get away without paying taxes while the rest of us struggle is what is criminal.

@@pacman3556 So for all your struggles, when you finally strike it rich, you'll happily donate it all to the government? I mean, you'll be one of those criminal a-holes who are not paying any taxes, right? I sincerely hope you will struggle for a couple of decades and then become wealthy enough to feel the pain of seeing most of it get taken away. Communism did not work for a reason, people forget their history.

No. Only the ultra rich will be impacted. Those greedy fat cats will be asked to pay a tiny little bit more so that the middle class can become rich.

@@victorlee2398I don’t think you know what ultra rich is

@@victorlee2398 you also believe that 8 out of 10 Canadians make more with the Carbon Tax, right?

@@bertgummer8125lol liking your own comment haha

​@@victorlee2398You believe whatever fairy tale you want. The real story is Canada is gouging everyone. Including me, a disabled 63 yr old with nothing.

this won't effect you at all. It is clear you are not a small business owner or have lousy advice. You don't make money yearly selling your business so this won't effect your income at all. And if you make money selling your business (i.e. you are using your business as a retirement fund) then you should pay taxes. The rest of us work our entire lives also and we pay taxes on our retirement fund so why should you be any different. Why should you get a tax free retirement fund when the rest of us have to pay taxes on our retirement fund throughout our entire working life? Pay your fair share.

@@pacman3556 It's clear that you are not aware of how the world of investing and business works. After I sell my business, I will no longer receive an income from it, and I'll be destitute in a short while if I did not have a back-up source of income. When I sell the business, the gains realized will be re-invested into a portfolio that will primarily earn from dividends and a few other methods, that's my back-up source of income. In this case, due to the tax increase, I'll receive fewer gains that will be re-invested, which will result in a lifetime reduction of income. In fact, I calculate that over the long run, the government will earn less from me in taxes because of the reduction. I lose, and so will the government. As for what I've paid in taxes, I've been taxed every step of the way. You have no clue what it is like to run your own show, you get absolutely no breaks from anyone, and the government is definitely not your friend. The retirement investments I have built up have been taxed to death like it is for everyone else, except more so because I'm taking all the risks. As I said, there are no breaks for a business owner's income, we're taxed to death ever step of the way. The only break we get, is a corporation is taxed at a lower rate on profits, however, if the profits are redistributed to shareholders as a dividend, the people receiving the dividends are taxed on it again, and it works out to be about the same rate as if paid as an employee. The investments held inside the business, will now be taxed at a higher rate than before, and there's no $250K threshold for a corporation, no lifetime cap gain exemption either. The lifetime cap gains exemption may apply in my personal situation when the business is sold, but it's only a portion of the value of the company, the rest will be taxed at a higher rate. I have personal investments outside my RRSP and TFSA that will also be taxed at a higher rate than before. There's no break for me, and my "fair share" was paid for many times over already, I've had to pay a lot more in taxes than most people do, and now I'm being "asked" to pay even more, as if I can say "no". ... and before you go off that "it's not a tax increase ...blah blah blah", I know how the inclusion rate works, and at the end of the day, it boils down to a tax increase. How do I feel? It's as if I'm being selectively targeted to pay even more than what was already excessive taxation, and now it's directed at my retirement plan, and that really burns me up. After years of struggling, I eventually did well by carefully managing my financial affairs, and because of that, I feel as if I am being penalized specifically for doing all the right things. My reward for my sacrifices, hard work, and financial risk taking, is now less! It's incredibly insulting to be called a tax cheat, a super wealthy bum who is gaming the system, etc etc. What a sick joke. For me, it's not actually the extra taxation that pisses me off, it is how it's being done that pisses me off to no end, it's become a deeply personal thing at this point. Trudeau and his lying, corrupt minions can go to hell, and I'll do whatever I can to make sure they get kicked out.

@pacman3556 If that's your understanding of how the world of finance works, then my guess is that your net worth is probably very small. My advice is for you to do yourself a favour and educate yourself, you can thank me later.

I have educated myself. That is why I know you are full of $hit. You clearly are not a business owner because you can't even figure out how small businesses make their income. This won't effect you at all. It is sad you have you panties up your a$$ crack over something that doesn't even effect you. Take your own advice and educate yourself. You can start by leaning this isn't a tax hike you fuc$king id$iot. It is a change on an existing inclusion rate.

@@geekinasuit8333 If your net worth isn't very small, then why are you complaining about paying taxes??

Wait until they add GST to all groceries to help with their reckless spending !

They'll never get rid of the personal exemption, nor the primary residence exception, but I'd like to see it go to 100% inclusion, income is income is income; or is it just us poor people that have to pay tax on 100% of what we earn?

@@tidbit1877 Never under estimate them, sounds like you're happy to let the crown steal more money

@@tidbit1877 You forget the the regular investor had to earn money so that he could invest. He paid 100% taxes on that money. He saved some of it took a chance and invested it. If the investment does not work out he loses his money. IF he makes money and employs people you want to double tax him on his investment

They are already talking about capital gains on principle residence and inheritance tax.

Agree

Capital gains means selling gambling assets.

They already are in fact many businesses have pulled out and people are investing in other countries.

@@Sinaeb no it doesn't it means selling your business when you can't work any longer your plumber, electrician, mechanic, construction people working for themselves, the local convenience store, restaurant, and so many more, get informed.

It's an inclusion rate... Not a 67% percent tax. It means they are increasing what counts as taxable to 67% from 50%. If you make investments and gain 500k from it in a year, only 250k is taxable as income currently. How come people who work for their money have to pay tax on 100% of it, but rich investors only pay tax on half of it?

@@XlordslaughterX sweetheart if I am a plumber or electrician or restaurant owner and I want to sell my business and retire because that is how I saved for retirement by investing in my business this will tax me at 67% unbelievably unacceptable for those who have worked their entire lives to build this country.

@@user-fl1pc7zu7fwomp womp

@@user-fl1pc7zu7f first off, don't call me sweetheart, it doesn't make you sound smart. Secondly, it's a 67% percent inclusion rate, not a 67% tax, learn the difference.

@@XlordslaughterX That's insane your trying to justify the government taking 67% of peoples retirement instead of 50% cause rich guy bad.

PP and the conservatives are not listening either. The people of Canada want the rich to start paying their fair share which this change to the inclusion rate on capital gains will do. If you don't support this change then you really are not supporting the struggling Canadian.

@@pacman3556 I do support change that's why I,m voting the Liberals out when the election comes.

so you are voting to give the rich tax breaks at the expense of the middle and working class. Don't cry when they get richer and you get poorer.

@@pacman3556 if you like things the way they are then vote for Trudeau.

no it won't It only affects people making over $243K in capital gains each year. So only about 5% of Canadians.

most canadians are not investors bud. why do you think investment should get tax breaks as compared to working ?

@@qzh Gamblers is the correct term, they are not investors, they are gamblers.

@@qzh You don't understand, do you? Just like fake taxes like "carbon tax" and any other increase in gas prices, it affects everyone.

@@pacman3556 Just like rising gas prices and fake "carbon" taxes affects literally everything else, so does this. All this means is that regular people will pay more for everything.

this isn't a new tax. It is a change to the existing inclusion rate on personal income taxes. And it won't effect you at all so pull your panties out of your butt crack and settle down.

lol good thing none of that is true

LMFAO banks don't loan to be taxed? When did they get taxed... It's the person who didn't have money and borrowed against future income who is getting taxed... For that future income.

@@butwhytharum Don't skip over key words, Banks didn't loan money in 2007 to new applications, also CFIB also recognized this then, TO let me repeat TO being overtaxed by govt which slowly destroyed small businesses. Growth, Diversion etc. Overall growth in small businesses have been eroded, to the point they shut down.

Keep saying the Chinese investment model is the way to go. Heard it's going swell for them. Borrow buy rent repeat.

everyone in toronto wants to own real estate or be a landlord to impose the same restrictions theier landlord imposed on them onto others.

@@shaq9361 everyone wants to have pasive income through real estate, and cheap debt makes it easy to treat it as a business plan to buy with debt and rent out to recover that debt. For a capital gain.

Exactly Canada is not built like USA....there is a lot of red tape in Canada cuz Canada is a system meant for ppl to be slaves to government systems instead of being able to do things on their own

Well real estate gains are also being targeted by this

Any business that can't pay minimum wage needs to go out of business. Someone who is a better businessman will be happy to have their volume and will happily pay proper wages.

@@DavoZed LOL

@@reyjay1965 Yes, the original comment is hilarious. Imagine that we have a poverty problem in this country because of low wages and someone is crying because some businessman won't raise his prices and then pay proper wages. Anyone who can't run their business and pay their staff, needs to step aside and let someone with some business ability have their sales.

@@DavoZed what businesses have you started?

@@jamessullenriot I've had a series of businesses over my adult life, Pinhead. If someone can't run their business properly, they need to stop and get a job and let someone else have the sales. They can't afford to pay minimum wage? They need to RAISE their f+cking prices. They're afraid of the capital gains tax? It will only be a factor if they SELL their business at some point. If they can't manage it well enough to pay wages, there will be nothing to sell and therefore NO capital gains tax. Is being an IDIOT enough for you? Is that all that you aspire to?

Sadly enough it's best for immigrants not to invest in Canada or move to Canada, it's better to go to the US or else where

this not a tax. it is an existing inclusion rate. And the purpose of this change is to make rich people pay their fair share in taxes.

Only those making over $250,000 in Capital gains, so no, actually most companies will not be effected.

@@tidbit1877 please get informed when people go to sell their self employed business when they can no longer work this will affect them your plumber, electrician, mechanic, people working in construction for themselves, convenience stores, restaurants, as well as health care workers working for themselves.

@LHLK- businesses don't make their money selling their business each year. This won't effect them. And when they do make money selling their business for retirement then they should pay taxes. We all pay taxes on our retirement funds why should they be any different? Why should we all pay taxes on our retirement funds but they get a tax free retirement?

and a lot of people going to the foodbank are making enough not too, here is no assessment done of people collecting

All made up numbers.... For paper not reality. Reality is more complex

what's your point? How is this change relevant to your stats? If I had to tie the two together in anyway then this change is great because it will make the rich people pay their fair share in taxes which helps reduce the wealth gap that leads to the stats you listed.

there math isn't off. PP and they guy in this video is lying to you. Learn what an inclusion rate is and how it affects only rich people.

@@pacman3556 yes it is just like the budget will balance itself, you do not have the knowledge to comment on this, if you think this only affects the rich ask your plumber, electrician, mechanic, private nurses, contractors or construction people working for themselves.

@@pacman3556 It affects everyone, even your tax-free TFSA will be natively affected. Imagine a Canadian business named "CB" that sells some of its assets for a cap gain profit that is redistributed to shareholders as a portion of its annual dividend payment. You so happen to own a few hundred shares of CB sitting inside your tax sheltered TFSA, guess what, you just earned less money thanks to this tax increase. The money you did not earn, will not be re-invested back into your TFSA, the reduction will become a lifetime reduction of your gains from that point forward, it'll begin to negatively affect you even before you retire.

@@pacman3556 how's the red cool-aid taste bro?? I'm a chartered accountant. Spare me you bs and find someone else to lie to..

huh wow. Typical right wing nut job reply. Instead of actually learning you just blindly repeat the stupid $hit that PP told. Typical ignorant right wing fu$cktard.

middle class workers don't make $243K a year in capital gains. It won't effect them at all. So take your panties out from between your bum cheeks and settle down.

I don't believe everything any politician tells me however it will only effect about 5% of Canadians. Learn what an inclusion rate on capital gains is instead of believing every word PP and the conservatives tell you.

@@pacman3556 That's not how it works. What the government says, it affects only 0.13% of "wealthy people" PER YEAR. Over let's say 20 years, it will affect a few million people, and many of them are not super wealthy, it'll be a tax on their retirement fund, or inheritance, etc.

@@pacman3556 From 0.13 to only 5% (assuming %5 is accurate, like any liberal number from the thin air). But that is 50 times more Canadians to be affected. I am surprised why you so trivilaize such a blatant manipulation and misleading. Of course you do. You are one of them. Look at the carbon tax, $30B economy damage per year knowingly hidden from the public. You can not fool all of the people all of the time.

​ @geekinasuit8333 1- no that was not what was said. I believe they said it effects about 5%. However if you want to use your figure of 0.13% great....then it effects even fewer of us and pretty much guarantees it doesn't effect you so pull your little panties out between your bum crack and stop crying. 2- yes "wealthy people". This effects people making over $243K per year in capital gains. By definition middle and working class people do not make $243K a year in capital gains. If they did they wouldn't be defined as middle or working class. They would be defined as wealthy. So this proves point #1. Since the vast majority of us are defined as middle and working class it won't effect the vast majority of us. 3- yes PER YEAR.....so what? Are you not aware of how our tax system works??? You pay personal income taxes each and every year.....part of paying your income taxes is declaring what income you received from capital gains...so every year or PER YEAR you need to pay taxes on capital gains....and if you make over $243K in capital gains then every year that that happens it will effect you. What part of you claim income taxes or fill out a tax form PER YEAR (or yearly) confuses you? 4- it won't effect millions of people over 20 years because millions of people don't make $243K in capital gains every year. (do you really not understand a basic term like PER YEAR? 5- only the super wealthy make over $243K each year. Middle and working class don't make that kind of money....goes to point #2....if they did make that kind of money they would not be considered middle or working class. 6- this won't really effect someone's retirement fund. More than likely it is some form of RRSP or pension income that is no where near $243K per year that they get. If it is from the sale of some type of asset then there is a once in a lifetime exemption. Neither scenario effects a middle or working class individual 7- there are no taxes on inheritance. Again you don't seem to understand our tax laws. Learn before you talk on a subject you know nothing about.

Amen

Return on investments leads directly to job creation and wage increase. When corporations do well, they have a mandate to grow. Say goodbye to that now, and say hello to mass layoffs

businesses pay more in taxes than individuals do darling. try and get informed.

Who takes the risk and who pays employees

@@Anonymous.Wisper Who does the actual physical work?

This only affects people who are already ahead. We're talking about people making 250k in a single year in capital gains. People who are "trying to get ahead" won't see a single thing change in their income.

@@XlordslaughterX sweetheart small convenience can show a profit of 250 but that is not the owners take home. anyone who works for themselves ie. plumbers, electricians, mechanics, health care workers, etc will all take hits.

@@user-fl1pc7zu7f again, stop calling me sweetheart. And how do you figure any of those people are taking home a quarter of a mil a year in capital gains?

Family cottages too and literally every house that is inherited ! The crown is stealing all your family wealth !

so it won't effect 95% of Canadians including you so stop your whining

I'm sorry but I will never feel sorry for someone who has $250,000 there are people in actual poverty in this country.

@@GG-vq6ro Most cottages are passed down through the family, the crown deserves none of it. For what, to give away billions to other countries !

@@GG-vq6ro You are a sad individual

Mass layoffs and extreme poverty lines are next

yes and some other investments as well

Yep, the lifetime cap gains exemption doesn't help me at all, it's a twisted joke that gets me even more angry at this government.

Sorry dear, I'm a small business owner, and most of my work is for other small business owners, and we all loath that man. Actual men don't vote for lady boys.

Trudeau ate his fair share of food, and now he's asking you to pay him your fair share of taxes in return. What a guy! Always setting an example to look up to!

why would a mom and pop shop close because of a change on the existing inclusion rate on capital gains for rich people? wtf are you babbling on about?

1- this is not a tax. It is a change to the existing inclusion rate on capital gains. 2- this effects rich people. You really think rich people are going to vote to increase the amount of taxes they have to pay? Invite us middle and working class....we should all support this change. It is time rich people pay their fair share.

this won't effect you at all so pull your panties out of your butt crack and settle down.

what is 0.0013%? What is that a reference too or how is that relevant to the topic?

yes the liberals are incompetent but how is making rich people pay their fair share in taxes incompetent?

No. That's Liberal malice.

@@pacman3556 Who's the rich?

​ @shauncameron8390 people that make over $243K a year in capital gains. Middle and working class are not making that.....if they did they wouldn't be defined as middle or working class. Your answers can easily be found with a simple Google Search...try it some time.

most will get paid under the table, if they can or barter for things they need, it is creating an underground economy

it depends on how the pension plan makes it money. If they make money through something like interest (bonds, GICs etc) then that is 100% taxable. If they make it through dividend payments on stocks they bought then tax is paid on about 65% of that income. If they make money from a capital gain then currently they only pay tax on 50% of that income but the new changes will mean they pay on 65%. It doesn't matter what pension you put your money into. It is not about what pension it is. It is how the money is earned to determine what classification of income it is. You need to learn a little bit before you comment.

@@pacman3556 Exactly! Due to the tax changes, it's best to find the best alternatives for future retirement fund. It's like a game. Get an accountant and they will give you many different scenarios you can choose to be the best tax efficient. Better get that going now instead of trying to rely on Capital Gains tax. Who knows by the time they retire, they might tax it 100% inclusion rate and it won't matter

@@pacman3556WOW! They deleted my reply! Tell me someone that doesn't understand how to find the best tax efficient option without telling me how to find the best tax efficient option

If you are a corporation the first dollar of capital gains will be taxed at the higher amount. They are planning to collect $19 Billion in the next 5 years. Based on that there will more than the ultra rich paying the tax

yes like plumbers, mechanics, electricians, private nurses caring for people at home, convenience store owners, etc. small business owners dear.

@@user-fl1pc7zu7f Moronic. Your thoughts. The sky is falling, the sky is falling. Chicken Little

@@user-fl1pc7zu7f Agree

nonsense

You don't even need to be a corp you can just buy them under regular business expenses. Say you have a business worth 350k but your looking to sell. Buy 120k worth of something business related like a truck or something and sell the business then sell the truck after, you will pay much less.

@@thimblemunch24 After the business is sold, you'll no longer own the truck, the new owner of your business will own it.

@@thimblemunch24 does not work like that.

If you have a corporation, it buys, let's say a truck, for $100,000 then 2 years later you sell it for $133,000 you (the corporation) will be hit by tax on 2/3 of $33,000 (at the new inclusion rate) - and the corporation pays tax on $22,000. If it were outside a corporation you would pay tax on only $16,500. Now tell me it affects only the super rich. CF says PP does not understand inclusion rate, but she does not understand capital gains.

Where

@@user-fl1pc7zu7f If a small business is earning only $250K per year, then it's struggling very hard just to stay afloat, and will probably be gone in a short time. $250K is not a lot of money these days. Imagine retiring on $250K without a cushy pension, you'll be living on the street in a very short time.

1- profit earned by businesses is not a capital gain.....this change doesn't apply to them 2- if someone is making over $250K then they are not middle class and they should pay their fair share in taxes.

That's not profit. That's revenue before expenses.

@@pacman3556 The business is a capital investment, and when it gains in value, the tax increase will take a bigger junk when the business is sold.

No they aren't been that way for hundreds of years dear. Most businesses are puchased by others so they already have something up and running with it's own client base. You don't know much

​@@user-fl1pc7zu7f Agree, I'm a small business owner, and some of the comments I see here are due to ignorance and misconceptions of what employers have to struggle with. Employers get no breaks, they are heavily taxed, and have been disincentivised from hiring employees to a point where I've found creative ways to avoid hiring more people. What this current government is doing, is fiscally irresponsible, and is disincentivising entrepreneurs and investors. At a personal level, I find it deeply offensive how it's being done, as if I'm somehow a tax cheat not paying my fair share???? I say FU! I'm going to do everything I can to get rid of this toxic government, I've never been as fired up in this much anger before over a government. Each day, I see more toxicity thrown towards hardworking business owners and investors such as myself, it's been very disturbing, and of course, this tax increase is timed perfectly when I'm about to cash out and retire. FU!!!!

no it's not. Small business owners don't make their money from capital gains each year. They make it from the sale of goods and services so they are not effected at all by this. You are believing lies by rich people to make themselves richer at your expense. If you want to support the middle and working class you should support this change to the inclusion rate on capital gains. This isn't a political stance or one party vs another party. This is about making rich people pay their fair share in taxes.

Simply NOT true. I know ppl whom are immediately impacted by this. To help thy middle class: stop gov't corruption, stop sending money outside of Canada, stop the mass immigration, stop over taxing EVERYONE.

no your comment is not true. Middle class people do not make $243K a year in capital gains so a change on the inclusion rate on capital gains over $243K a year won't effect them at all. Small businesses do not make their money from capital gains so won't effect them either The rest of your comment had nothing to do with the topic.

Define middle class. Your calculations are shallow. You don't see the bigger picture and the middle class will pay more for this. Period! It it affects generational wealth and prosperity that can be passed down. I'm not going to argue with you. Perhaps you don't have anybody in your family WORTH ($) anything and that is why you don't see the bigger picture. Perhaps you employ yourself and that's why you don't see the bigger picture. Either way, you will be affected.

nothing you wrote has anything to do with a change in the inclusion rate on capital gains so wtf are you going on about?

making rich people pay their fair share in taxes is madness?

Bye bye 👋

@@GG-vq6ro of coarse a cat lady.

@GG-vq6ro you are profoundly ignorant and clueless, what a waste.

@@thimblemunch24 meow 😻

good go...we don't need any more drama queens here. Bye.

it isn't a capital gains tax. It is an inclusion rate you fool. And it isn't the highest in the world. it is in line with most first world nations. You must confused with the MARGINAL tax rate that is applied to the income on capital gains after the inclusion rate is applied. That MARGINAL tax rate is about 33% on the last dollar which is also comparable to other countries.

really?

Not quite many places in Europe have two things 1) 100% inclusion rate and 2) over of ALL gains not just over a specific threshold of $250k.

no we don't. This is not a capital gains tax. It is an inclusion rate. You don't even know the difference so don't comment.

the rich you mean my plumber, mechanic, electrician, private nurse caring for people at home, convenience store owner, all small businesses working for themselves.

@@user-fl1pc7zu7f elaborate on how they are going to be affected by this capital gains tax change

250k isn't rich, many many businesses in Canada fit this and when they sell it's their retirement your taxing.

Your plumber, mechanic, electrician, private nurse caring for people at home, convenience store owner, all small businesses working for themselves don't make money from capital gains you fool. They make it through the sale of a good or service which is 100% taxable income.

better then PP using my money to bail out his rich friends and supporters.

no shit to what?

nope...help the little guy by making rich people pay their fair share in taxes.

@@pacman3556 They already do unlike the bottom 50% who account for some 4% of all taxes paid.

@@pacman3556 🤡🤡🤡🤡

yes you are a clown if you think this will effect you or the little guy. The "little guy" doesn't make over $243K a year in capital gains. Your comments really make you look foolish

​ @shauncameron8390 rich people do not pay their fair share in taxes. And it is because of things like the inclusion rate on capital gains. Changing the inclusion rate will close the income/ wealth gap and make rich people start paying their fair share. It won't effect the middle or working class at all.

yeah it is a lie when they say a change in the inclusion rate will effect small businesses. It won't.

I don't support Trudeau but I do support making the rich pay their fair share in taxes which is why I support a change on the inclusion rate on capital gains. If you support the middle and working class you should do the same. If not you are letting the rich take advantage of our system to avoid paying their fair share.

@think214 that's incredibly ignorant. It's around 1 million dollars for retired seniors to survive now.

and I don't wonder any more why record numbers of people are leaving this dumpster fire of a country

@@prophetofthe8th anyone that sells an asset for $1M for retirement should pay taxes. We work our entire life saving for retirement and taxed on all that income and savings the entire time. Why should someone get a tax free $1M retirement fund while the rest of us have to pay tax on your retirement fund?

No correction here the LOVE of money is the root of all evil don’t love it

@@abdablelow6031 If that’s what you Believe in your head by your spirit of the mind not my Spirit Christ

I Timothy 6:10

@@abdablelow6031 1 Timothy 6:10 King James Version 10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.

@@abdablelow6031 Who are themselves by the god of this world the Mother a spirit not the Father and I?

But I thought we weren't under communism.. And, they weren't dictator's? LMFAO! Silly, Rabbit. That sounds pretty commie to me.

business won't be effected by this at all. Their income is not a capital gain and is 100% fully taxable.

@@pacman3556 brilliant, have you thought about selling a business? Is that capital gain or business income tax? You might be cute and smart, but Trudeau and Freeland are way ahead of you, as far as money is concerned. They can suck a penny out of boiling water,

from the rich. About time they start paying their fair share in taxes. It won't effect you at all so take your panties out from between your as$ checks

and may they be the ones most hit

what does the way people vote in Toronto have anything to do with a change in the inclusion rate on capital gains?

then leave. You won't be missed. We don't need more little drama queens like you. Bye

I don't support the liberals but it is not a lie. Businesses don't make their income from capital gains. This won't effect them at all.

Section 15 of the Charter does get abused by those with money already, too often.

wtf are you babbling about? If you were to draw a Venn Diagram of racists vs ignorant people it pretty much would be a circle.

And what company doesn't buy low and sell high? from the convenience store to the mechanic to the plumber to the electrician to anyone in private business.

You pay it when you sell your business that's the issue, so it's basically taxing your retirement, business owners don't get regular retirement like most of you normies, they get it when they sell the business at the end of their life. You get it by paying into it every month to the government.

@@thimblemunch24 Good. Everyone is taxed on their savings. Everyone pays taxes when they cash out their RRSPs when they retire. We are all equal in this country. Why should someone selling an asset for their retirement fund pay less in taxes (or no taxes at all) then someone that worked their entire lives for their retirement fund. Also most small businesses like plumbers, contractors etc only have value in the business based on their name and the personal service they provide. Once most small business owners retire they close the business not sell it for a major gain because other people don't want to take on a business under someone else's name (reputation etc) but build their own small business. You can try and argue that a person is buying the assets of the business but assets depreciate. Which on the off topic let's business owners write off part of their income which over the year's allows them to pay less in taxes. So you want to give them tax breaks through depreciation the entire length of the business then give them further tax breaks when they sell the business.....during that entire time you pay 100% tax on your income? You think that is far? You don't seem to understand what a capital gain is. This won't effect small business owners at all. Learn before you comment.

​@@pacman3556 Yes, selling a business is generally considered a capital transaction, and the profit from the sale is typically subject to capital gains tax. Yet you tell me to learn before I comment.. XD

@thimblemunch Business owners don't sell their business every year for income. They make their money through the sale of goods and services which is 100% taxable income. Not a capital gain or effected by a change in the inclusion rate If someone is using their business as a retirement fund then they should pay capital gains when the business is sold. We all work our entire life to save for retirement and our entire life we are taxed on that income and our savings. Or when we cash out RRSPs we are taxed. Why should we work our entire life paying taxes while someone else gets a tax free retirement fund? We are all equal in this country. Let them pay taxes on their retirement fund just like the rest of us. We all work just as hard.

I don't support Trudeau but businesses don't make their money from capital gains they make money selling goods and services which is 100% taxable income. Also this is a change in the existing inclusion rate on personal income taxes. Business follow business tax laws they don't pay personal income taxes so this won't effect a business at all. You are so hate filled toward the liberals that you are willing to ignore reality and how our tax system actually works and let PP tell you whatever you want to hear. Easily led fool.

Or marijuana shops we don’t need those maybe some but not as many as there are like one on every corner..🙄

@@abdablelow6031 Drugs/Alcohol are popular

@@abdablelow6031 Exactly...you can get marijuana pretty much anywhere from anyone...I don't know what the hype is all about.

nail salons don't make money from capital gains you id$iot. This won't effect them at all.

You bought right into their class warfare tactic. Well done!

"grandpa" more than likely worked his ass off for years to be able to enjoy golfing, leave the old guy alone.

Exactly. I'll never feel bad for these rich people paying more tax Most of us don't even have anything to retire with I really don't care about them.

​@rickvervoort9536 if the rich don't want class warfare maybe they should help out struggling folk a bit instead of hoarding all the money

@@GG-vq6ro How many jobs have gotten from a poor person, speaking of helping out the struggling folk.

But here's the thing on #3... They don't pay themselves a salary and look at the business as their entire piggy bank.

#6 the business itself is capital gain the individual is trying to sell... Not hard to understand what people find valuable/not valuable.

@@butwhytharum I addressed #6 First the business gets favorable tax rates by writing off the depreciation of their assets. They are already getting a tax break on those assets Second the assets tend to go down meaning a capital loss not a capital gain (if they didn't go down they wouldn't be claiming depreciation). Third if someone is selling their business and making a lot of money from that sale to use for their retirement then they should pay taxes on that gain. Essentially what is trying to be argued is the owner is using their business as a retirement fund. The rest of us that work for a living pay taxes on our savings throughout our entire working lives. And anything that we put into RRSPs are taxed when we withdraw them. So why should a business owner have a tax free retirement fund when the rest of us are taxed our entire lives on our retirement fund (or if it is an RRSP taxed when withdrawn)? How is that fair? And to continue on that thought......when individuals that are taxed on their income it is 100% taxed (i.e. we make 100K we are fully taxed on that amount) however by claiming a capital gain the business owner is only taxed on half of that gain (i.e. if they make the same 100K but through a capital gain they only have to pay taxes on $50K compared to workers that have to pay taxes on the full 100K)-- how is that far? Why should they be able to write off half of their retirement fund and pay tax on only half of it when the rest of us have to pay on the full 100% amount? Also the capital gain is not realized until the owner sells the business. So this wouldn't effect the daily operations of any business at all. Nor would it effect any income they earn over the duration of their operation. That money is made through selling a product or service which is 100% taxable income- not a capital gain that is effected by an inclusion rate. It makes no sense at all for a successful business to close operations because of a change in the inclusion rate on a potential capital gain made through its sale years or decades into the future. No business owner would close their business that is their source of income today because of an unknown gain some time way in the future In other words- using basic numbers as an example- if you are a 30 year old (or any young age no where near retirement) business owner making $150K a year (or any amount that you feel sufficient to make a living and keep the business open) would you close that source of income that you live off of because in thirty or forty years you will have to maybe have to include 15% more of the income from the sell of that business on your tax form? Not likely. You will keep operating your business as usual. This won't effect the daily operation of business at all.

@@butwhytharum yes they do pay themselves in some form and usually it is in the form of a salary. Yes they do see their business as a "piggy bank" or more accurately they see it as a way to earn money to make a living. You think they are just in it for fun? No....they are in business to make money. That money is not a capital gain so it is 100% taxable and is not effected at all by the change in the inclusion rate on capital gains. (It is income earned not a capital gain).

I addressed #6 First the business gets favorable tax rates by writing off the depreciation of their assets. They are already getting a tax break on those assets Second the assets tend to go down meaning a capital loss not a capital gain (if they didn't go down they wouldn't be claiming depreciation). Third if someone is selling their business and making a lot of money from that sale to use for their retirement then they should pay taxes on that gain. Essentially what is trying to be argued is the owner is using their business as a retirement fund. The rest of us that work for a living pay taxes on our savings throughout our entire working lives. And anything that we put into RRSPs are taxed when we withdraw them. So why should a business owner have a tax free retirement fund when the rest of us are taxed our entire lives on our retirement fund (or if it is an RRSP taxed when withdrawn)? How is that fair? And to continue on that thought......when individuals that are taxed on their income it is 100% taxed (i.e. we make 100K we are fully taxed on that amount) however by claiming a capital gain the business owner is only taxed on half of that gain (i.e. if they make the same 100K but through a capital gain they only have to pay taxes on $50K compared to workers that have to pay taxes on the full 100K)-- how is that far? Why should they be able to write off half of their retirement fund and pay tax on only half of it when the rest of us have to pay on the full 100% amount? Also the capital gain is not realized until the owner sells the business. So this wouldn't effect the daily operations of any business at all. Nor would it effect any income they earn over the duration of their operation. That money is made through selling a product or service which is 100% taxable income- not a capital gain that is effected by an inclusion rate. It makes no sense at all for a successful business to close operations because of a change in the inclusion rate on a potential capital gain made through its sale years or decades into the future. No business owner would close their business that is their source of income today because of an unknown gain some time way in the future In other words- using basic numbers as an example- if you are a 30 year old (or any young age no where near retirement) business owner making $150K a year (or any amount that you feel sufficient to make a living and keep the business open) would you close that source of income that you live off of because in thirty or forty years you will have to maybe have to include 15% more of the income from the sell of that business on your tax form? Not likely. You will keep operating your business as usual. This won't effect the daily operation of business at all.