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Did you know? In Canada, Capital gains are taxed far lower than other types of income.

But watch for confusion! The recent increase from 50% to 67% is NOT the tax rate, it's just the amount of the gain that qualifies to be considered for taxation. Nothing is *taxed* at 67%.

You can have an opinion about whether or not $ in an investment should be treated the same or differently from $ from working a job. But that's a different topic.

Try the calculator: turbotax.intuit.ca/tax-resourc…

#CDNPoli

Four screenshots from the linked Turbotax website showing the following results: $100,000 of employment income results in $21,590 of taxes. $100,000 of self-employment income results in $28,312 of taxes. $100,000 or other types of income including EI results in $22,878 of taxes. $100,000 of capital gains results in $7,807 in taxes.
#cdnpoli
in reply to Cameron MacLeod

Hubert Figuière
Hubert Figuière
• •
and even the Intuit lobby lies as they say the average tax rate is 15.6%, when it is actually 7.8% by calculating it over the taxable income instead of the actual income.
close up of the screenshot that show that Intuit lies about the tax rate Est tax: $7807 Total income $100,000 Total tax $7807 After-tax income $42,193 Average tax rate: 15.61%
This entry was edited (5 months ago)
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