Birdwatch Archive

Birdwatch Note Rating

2024-05-16 13:31:28 UTC - HELPFUL

Rated by Participant: F2BB68BBB4B164F3C8761D64A9746BF01AE598FCF1354AB8DBBAFB672BB1DBD9
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

Original Tweet

All Information

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