Birdwatch Note Rating
2024-05-16 15:14:47 UTC - HELPFUL
Rated by Participant: B881091D7D0B2FCFA9846A3CD7915AC776554442B93B6FA2EE50364E36658A23
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
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