BOC Hits 5%

I read to the bottom, CRA will determine your eligibility. I’m in the awkward phase of life where I’m not getting carbon rebates , HST rebates , or even senior discounts.

And the carbon tax I’m paying along with all the fuel road tax to maintain highways for the EV car crowd to enjoy ? then give them a discount for buying an EV car, The carbon tax needs to go , sunny ways my ass , I can’t afford his sunshine .


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Evoex said:
The discount was always a bit of a joke anyways, only people who could afford those cars already had 'money'.
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A far more effective measure would have been no gst on used ev's. Closes the gap to ice for normal people. He has never ever been concerned with effective. It is all virtue signaling and dumpster fires of meaningless measures.
 
Evoex said:
The discount was always a bit of a joke anyways, only people who could afford those cars already had 'money'.
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It would be interesting to see the energy efficient houses those EV's call home. Our tax free cap gain tax on bigger thus more consumptive houses offsets the reality. STOP THE QUARRY (after I get my place built)
 
nobbie48 said:
It would be interesting to see the energy efficient houses those EV's call home. Our tax free cap gain tax on bigger thus more consumptive houses offsets the reality. STOP THE QUARRY (after I get my place built)
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Primary residence exemption scaled by house size would be interesting. Something along the lines of 1000 sq ft is exempt, above that every 1000 sq ft removes 30% from the cap gains exemption. Over 4000 sq ft is entirely taxable. No accommodation for renovations or maintenance if you don't qualify for exemption. It would drastically change the landscape.
 
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GreyGhost said:
Primary residence exemption scaled by house size would be interesting. Something along the lines of 1000 sq ft is exempt, above that every 1000 sq ft removes 30% from the cap gains exemption. Over 4000 sq ft is entirely taxable. It would drastically change the landscape.
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If it's a consumption tax, minimizing consumption in general would be the goal.

Go to any major mall on a weekend and take a survey on what NEEDED items the people are there to buy. People buy various forms of bling. Eliminate bling shopping and the economy crumbles. Pension plans crumble. Investments crumble. Creative efforts dry up without rewards.

Will the last person to leave Canada please snuff out the candle.
 
Just to state the obvious... Aside from the well known supply v demand issues.

We have people wanting to buy "affordable" housing and the current prices are not "affordable". Then we also have people that currently own housing, and many that are still paying for that owned housing.

Well.... if prices come down the people looking to buy are in better shape BUT anyone owning loses money/value and anyone still paying may be in even worse shape (higher payments on less value).

There is no fairy-tale solution, some will lose some will win. Higher rates put people under pressure and will lower values if it hits those distress pain points. Even if they magically increased supply, if it lowers prices anyone owing today loses... We as a society can't have it both ways--pick the group you want to win.
 
backmarkerducati said:
Just to state the obvious... Aside from the well known supply v demand issues.

We have people wanting to buy "affordable" housing and the current prices are not "affordable". Then we also have people that currently own housing, and many that are still paying for that owned housing.

Well.... if prices come down the people looking to buy are in better shape BUT anyone owning loses money/value and anyone still paying may be in even worse shape (higher payments on less value).

There is no fairy-tale solution, some will lose some will win. Higher rates put people under pressure and will lower values if it hits those distress pain points. Even if they magically increased supply, if it lowers prices anyone owing today loses... We as a society can't have it both ways--pick the group you want to win.
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It isn't quite that black and white. If new "affordable" housing was built that separated land ownership from dwelling ownership, you could both have affordable dwellings and the existing pool remaining high. It would be almost impossible to jump from the affordable group to the landowner group though as land prices will continue to run away.
 
Supply-and-demand will doom anything I can think of that would ease the pain of first-time home ownership. Anything you do to reduce costs, whether it be interest rates or rebates or tax breaks or anything of the sort, will be filled in by demand which drives up the price once again to the limit of what the market will bear.
 
If they want demand to slow down it’s easy, either keep cranking rates and kill the economy, or shut the immigration door and literally do not renew existing visas and applications.

That’s step #1.

Step #2 is make it prohibitive to be a landlord beyond a second propert.

Whether capital gains, income taxes, or some other pain…it’s doable.

Some will make others the ‘owners’ but not many can do that, or will do that to defraud the CRA willingly.
 
GreyGhost said:
It isn't quite that black and white. If new "affordable" housing was built that separated land ownership from dwelling ownership, you could both have affordable dwellings and the existing pool remaining high. It would be almost impossible to jump from the affordable group to the landowner group though as land prices will continue to run away.
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Basically the Toronto Islands....?
 
crankcall said:
Other countries have a word for homes on state owned land that makes it affordable . Its something like socialism .
nope, no thanks .
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It has many flaws. Imo, it is better than no place to live. Form many people, the private market is not an option as rent to income is unmanageable.
 
mimico_polak said:
shut the immigration door and literally do not renew existing visas and applications.
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That'll never happen, easy government cash grab from new immigrants.
Even though we're seeing the outcome of over immigration, the door will remain wide open.
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