Capital Gains Tax Hike - If You Own Investment Property, You May Be Paying More Tax When You Sell 🇨🇦

🇨🇦 Happy Canada Day 🇨🇦

The government has announced a capital gains tax hike effective June 25, 2024 for properties sold in Canada.  Capital gains for both personal and corporate held properties have increased.  If you own investment property, you may be paying a higher capital gains tax when you do sell.  Who will this affect, and how will it impact the real estate market?

In this episode of Real Estate Chat, Robert Ede (http://www.unclebobexplains.com) and Johnder Perez (http://www.johnder.com) talk about the new structure of the capital gains tax.  We discuss what personal held properties will be taxed when they are sold and trigger the capital gains tax, and how corporate held properties are also affected.

How will this new capital gains structure, swiftly slapped on by the current government, potentially affect real estate investors and the real estate market?

If you currently own investment property, what does it mean to you?

If you're planning to invest in property, what implications should you consider when it comes time to selling the property later on?

If you're a speculator... well...

Watch this episode to learn more about how the capital gains tax hike will affect you.

Read this article and watch this video as well to gain additional insight:

https://financialpost.com/personal-fi...