Birdwatch Note Rating
2024-05-15 10:48:02 UTC - NOT_HELPFUL
Rated by Participant: B82D9560FDBFD2BDF503DF91991D3FDA9E86B8D2B7042B148BA09B0913742D7B
Participant Details
Original Note:
It’s not a 66% capital gains tax. It’s a 66% capital gains inclusion rate. I.e 2/3 of the gain is taxed at your marginal rate. So even if you were in the top tax bracket in Ontario where income over $235k was taxed at 53.53%, you would pay 66%x53.53% = 35% on capital gains https://www.eylaw.ca/en_ca/newsroom/2024/tax-alert-2024-no-28
All Note Details