Chris Barron’s Post

Confused about the new capital gains tax rules in Canada? 😣 This video breaks down what's changing and how it could impact your finances, especially if you own investment properties or plan to sell a second home. #Urban411

20 conversations and one conclusion: The proposed changes to the Capital Gains inclusion rate in Canada's 2024 budget will negatively impact estate planning and family dreams of passing on the family cottage to the next generation. This budget creates unexpected and unintended casualties, including cottage owners and those who own a second home that they lease out for income. It also creates two different tax realities in one calendar year. Those whose middle-class wealth is built on real estate will feel the greatest impact, as selling and repurchasing financial assets (investments) is much easier and less costly than selling real estate. Paying tax on 50% of a gain is more reasonably prudent than paying tax on 66.6%. What are your thoughts? (Please share respectfully of others)

🏠📢 Big News for Canadian Homeowners & Investors! 📈 Canada has announced significant changes to the capital gains tax that could impact many property owners. Here’s what you need to know: ✨ New Tax Rates: Make sure to check how the adjusted rates affect your property investments. 🔄 Updated Exemptions: Learn about the revised exemptions that might apply when you sell your home or investment properties. 📊 Planning Ahead: Consider speaking with a financial advisor to understand how these changes could influence your real estate strategy. 🔍 Stay informed and prepared to make the most of your investments in light of these new regulations! Contact me for any questions or assistance in navigating the current market https://wafarealestate.ca/ #RealEstateCanada #CapitalGainsTax #InvestmentTips #PropertyMarket #FinancialPlanning #RealEstateNews

Canada Raises Taxes on Capital Gains | What Real Estate Investors Need to Know? Are you worried about the proposed increase in capital gains tax for real estate investors in Canada? In this video, I dive into the recent buzz about the Canadian government's plan to hike up capital gains tax for real estate investors. As someone with nearly two decades of experience in both real estate and mortgages, I'm here to break it down for you. Join me as I simplify the concept, analyze the proposed changes, and discuss their potential impact on investors and the housing market I hope you find this video helpful and love it. Please feel free to drop your questions in the comment section below. I will be more than happy to answer them all. Please find the full video in the first comment of this post. #RealEstateInvesting #CapitalGainsTax #CanadianRealEstate

Capital Gains Tax is Changing in Canada 🇨🇦 Capital Gains Tax is changing in Canada on June 25th 2024. This is money earned from selling an asset like a business, a stock or real estate. And instead of being taxed at 50% these gains will now be taxed at 66% for people who earn over $250,000 in capital gains this year. This could apply to recreational properties. So if you were already selling your cottage maybe it might be nice to close before June 25. My name is Connor and I am a REALTOR® at RE/MAX Finest Realty and of Hartson Homes, serving the Kingston and surrounding area. Get in contact with me: connorhartson@gmail.com | 613-893-0424 #canadianhomeprices #canadianrealestatemarket #canadianhousingmarket #canadianrealestate #canadianhomesforsale #remaxcanada #realestateinvesting #realestateadvice #realestatemarket #realestatehacks #capitalgainstax #capitalgainstaxacanada #capitalgainstaxchange #capitalgainstaxccottage #capitalgainstax66percent

How does Canada's 2024 Federal Budget affect real estate investors? From capital gains tax to housing incentives, explore the key changes and plan your strategy accordingly. #BudgetAnalysis #RealEstateInvesting https://lnkd.in/gM_8aSVw

Will this tax shift be a benefit to Canada’s housing market, or negatively impact new purchases and push us further away from an ambitious housing target? https://lnkd.in/gaSvCTBJ #blackthorn #capitalgains #canpoli #fedgov #blackthorndevelopment  

Commercial Property Insider ┃ Canada's Capital Gains Tax Learn three proactive strategies #commercial real estate owners can utilize to manage the potential increase in the capital gains tax inclusion rate, from 50% to 66.7%. #Canada #real #estate

New capital gains rules came into effect last week in Canada - do you know if you'd pay capital gains on a property or investment you inherit? We polled over 3,000 Willful customers and found that over half don't know how or when capital gains are paid when someone passes away. Here's what you need to know: ✅ When you pass away in Canada, your assets are deemed to be sold on the date of your death, and any capital gains would be due at that time ✅ Capital gains would be paid by the estate (which could result in a huge tax bill owing!) ✅ There is no inheritance tax in Canada, so by the time you inherit an asset the taxes have already been paid by the estate ✅ You can avoid triggering capital gains at the time of death through things like joint ownership and trusts More in this segment I filmed for BNN: https://lnkd.in/gqJM53x5

Explore the potential implications of Canada's capital gains tax increase on real estate investment in Jon Ramscar's thought-provoking article. A must-read for all investors! https://lnkd.in/dB85FMFh #RealEstateInvesting #TaxHike #CanadianEconomy #cbre