Enough is enough! Today, I wanted to quickly speak on the proposal by the federal Liberals to introduce a home equity tax on Canadian homeowners. Here is a simple example, that I break down in the video for you when it comes to the financial burden of homeownership, illustrating how unfair and illogical this proposed tax is.
Imagine buying a home for $600,000 and putting down 10%. Over 25 years, you pay your mortgage, property taxes, insurance, and maintenance costs, totalling approximately $1.3 million. Yet, when you sell your home for $1 million, the government wants to tax you on an alleged $400,000 profit! How does this make sense for hardworking Canadians?
Join me as I explore the impact of this potential policy on the real estate market and the financial stability of homeowners across the country.
Share your thoughts and experiences in the comments below.
Together, let's voice our concerns and demand fairer tax policies for all Canadians.
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Take care,
Shane
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