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Another $5000 tax incentive which totally isn't a limp-wristed bribery attempt at all, I bet. 
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Dec 15, 2016 02:18
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The vote liberal tax credit
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Dec 15, 2016 02:31
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namaste faggots posted:I'm trying to say that the BoC doesn't make decisions primarily on your mortgage payment. As well, 5 year ~fixed~ mortgages are backed by 5 year US tbills and not the BoC o/n rate. BoC can cut rates which mean poo poo to your mortgage payment. A rate cut might be good for the economy if that money doesn't get dumped into something retarded like bridges that have to be closed whenever there's snow. Just think about those over extended old stock Canadians on the longest term variable they barely qualified for their McMansion they then proceeded to heloc to holy hell for truck equity, truck nuts, and that 30 year term trailer for camping that they will end up living in when they default on their entire life 
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Dec 15, 2016 03:59
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A few weeks ago CI mentioned a rumoured bump in the capital gains rate from 50% to 75%. I just heard this rumour from someone else today. Curious...
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Dec 15, 2016 04:08
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James Baud fucked around with this message at 11:16 on Aug 25, 2018 |
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Dec 15, 2016 04:25
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https://twitter.com/dbcurren/status/809151107691847680
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Dec 15, 2016 04:48
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But the real estate industry says supply IS an issue. Conflicting reports IMO.
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Dec 15, 2016 05:34
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leftist heap posted:But the real estate industry says supply IS an issue. Conflicting reports IMO. who are you going to trust, some analytics company you've never heard of? or your friend Melody Simon - the Moose of Merritt.
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Dec 15, 2016 06:08
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namaste faggots posted:"lol idiot everyone knows it's easy to circumvent those regulations dumbass weed" How would you guys feel about legislation preventing non-permanent residents from investing in residential property? Or are there tons of American companies building rental housing in Vancouver?
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Dec 15, 2016 11:38
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Lexicon posted:A few weeks ago CI mentioned a rumoured bump in the capital gains rate from 50% to 75%. I just heard this rumour from someone else today. Curious... Wait, Canada has a 50% capital gains tax?
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Dec 15, 2016 12:39
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The way it currently works, of your capital gains, 50% are eligible to be taxed at your highest marginal rate. The rumor is that they're increasing this proportion to 75%. Is it credible? I dunno I heard it from someone who works with some partners at an accounting firm and they're advising their clients to realize some of their gains this year.
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Dec 15, 2016 15:15
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This is the CMA, though, and does it not include all housing types? Hard to get single detached supply in Toronto proper from that graph, for example. (There isn't any being built except for a subdivision in Scarborough that may or may not get approved).
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Dec 15, 2016 16:21
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Terebus posted:How would you guys feel about legislation preventing non-permanent residents from investing in residential property? Or are there tons of American companies building rental housing in Vancouver? They can simply create a Canadian business to bypass the ownership restriction. Just look at how fun it is to calculate your CCA on RE as a business http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/lns101-170/127/cmpltng/rlstt/x1_pf-eng.html 
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Dec 15, 2016 16:35
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Can housing bear twitter is losing its poo poo right now because Ben Rabidoux thinks Christy's new housing affordability measure is an interest free loan for down payments for first time buyers. lol if true
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Dec 15, 2016 17:50
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how has he not gone insane yet with all the stupid poo poo that's gone down in the last few years since he started telling everyone canada was in a huge bubble
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Dec 15, 2016 17:51
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He's probably making mad cheddar consulting for companies shorting Canada
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Dec 15, 2016 17:57
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im pretty sure he told people that wasn't a great idea an-- waiiiit a second
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Dec 15, 2016 18:01
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MiddleOne posted:Wait, Canada has a 50% capital gains tax? No, 50% of your capital gains is taxed at your nominal rate (generally 43%). So $100k gain = $50k taxed at 43% = $21.5k in taxes. And this is why so many people with a "family cottage" (2nd property) get hosed on inheritance since that isn't exempt.
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Dec 15, 2016 19:39
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namaste faggots posted:Can housing bear twitter is losing its poo poo right now because Ben Rabidoux thinks Christy's new housing affordability measure is an interest free loan for down payments for first time buyers. Hahahahaha, government will match your down payment up to 37,500$ with an interest free loan. no payments for 5 years, pay it off over the following 20 years. The restrictions I caught were: -First time buyer -Max house price 750k -Been citizen or PR for 5 years -Lived in BC for 1 -Paid taxes for 2 years
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Dec 15, 2016 19:48
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gently caress this province and gently caress this country
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Dec 15, 2016 19:53
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Kreez posted:Hahahahaha, government will match your down payment up to 37,500$ with an interest free loan. no payments for 5 years, pay it off over the following 20 years. how are they determining first time buyer? i'm going to exploit the gently caress out of this
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Dec 15, 2016 19:55
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Wow, that's a really heinously lovely plan.
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Dec 15, 2016 19:59
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namaste faggots posted:The way it currently works, of your capital gains, 50% are eligible to be taxed at your highest marginal rate. The rumor is that they're increasing this proportion to 75%. Is it credible? I dunno I heard it from someone who works with some partners at an accounting firm and they're advising their clients to realize some of their gains this year. I've always found this sort of stuff to be vile. Make 35k in a year by showing up to your job every day and busting your rear end? Pay income tax on all of it. Make 35k by flipping property? Pay income tax on half of it. "It's meant to incentivize investment which creates jobs" is the weakest excuse for rich people paying half the tax as poor people.
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Dec 15, 2016 20:13
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Our entire economy and the personal finances of most of the country depends on all that poo poo, that's why it's there. No one can get rid of the existing hand-outs and tax breaks and we're in a mad dash to keep adding more to prop up the failing system. Not to actually keep it going, but just so your political party can say "see we did all we could to protect middle class investments" when it finally crashes.
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Dec 15, 2016 20:19
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So pay $208 per month for 15 years or $156 per month for 20. e: no http://www.cbc.ca/news/canada/british-columbia/interest-free-home-loans-bc-1.3897832 quote:The B.C. Home Owner Mortgage and Equity Partnership program will provide a maximum of $37,500 — or up to 5 per cent of the purchase price — with a 25-year loan that is interest-free and payment-free for the first five years. so it's $156 for the 20 years or $125 Lain Iwakura fucked around with this message at 20:25 on Dec 15, 2016 |
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Dec 15, 2016 20:22
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OSI bean dip posted:So pay $208 per month for 15 years or $156 per month for 20. The only thing that matters is monthly payments so the last one. A typical Canadian would choose $200 a month for 50 years vs $220 a month for 20. $200 is smaller than $220 why would I pay more per month?!
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Dec 15, 2016 20:24
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Kreez posted:Hahahahaha, government will match your down payment up to 37,500$ with an interest free loan. no payments for 5 years, pay it off over the following 20 years. So I can pull 37.5K from my RRSP, put it down on a 750K (surprising it costs a lot more today) 1 bedroom condo and hope for the best? I hate this province so much.
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Dec 15, 2016 20:26
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I'll bet that you cannot default on this loan either.
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Dec 15, 2016 20:27
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yippee cahier posted:I've always found this sort of stuff to be vile. Make 35k in a year by showing up to your job every day and busting your rear end? Pay income tax on all of it. Make 35k by flipping property? Pay income tax on half of it. "It's meant to incentivize investment which creates jobs" is the weakest excuse for rich people paying half the tax as poor people.
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Dec 15, 2016 20:31
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OSI bean dip posted:I'll bet that you cannot default on this loan either. the only saving grace
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Dec 15, 2016 20:32
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does anyone remember that unsourced quote about how the bc liberal party wants to know as little about your finances as possible?
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Dec 15, 2016 20:33
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yippee cahier posted:I've always found this sort of stuff to be vile. Make 35k in a year by showing up to your job every day and busting your rear end? Pay income tax on all of it. Make 35k by flipping property? Pay income tax on half of it. "It's meant to incentivize investment which creates jobs" is the weakest excuse for rich people paying half the tax as poor people. It makes more sense for something like dividends. I own shares in a company. The company earned some profit and payed taxes on that income. That is, I as part owner of the company paid taxes on those earnings. It then 'transfers' some of those earnings to me as dividends. Was there more income somehow? Why should it be taxed again? Not that I really buy the argument but that's how it goes at least.
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Dec 15, 2016 20:37
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https://twitter.com/garymasonglobe/status/809472422009151488 lol gary mason smh
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Dec 15, 2016 20:40
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ocrumsprug posted:So I can pull 37.5K from my RRSP, put it down on a 750K (surprising it costs a lot more today) 1 bedroom condo and hope for the best? The max you can withdraw from your RRSP as a first-time homebuyer is 25K, so you'd need 12.5K from somewhere else.
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Dec 15, 2016 20:45
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Hahah wow this is so bad. Election round the corner though so I guess I shouldn't be surprised.
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Dec 15, 2016 20:48
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"The report said the proportion of new high-ratio mortgages ... with a loan-to-income ratio of more than 450 per cent – the most at-risk group of borrowers – was 18 per cent nationally in the third quarter, up from 16 per cent a year earlier. In Greater Toronto, the proportion rose to 49 per cent, from 41 per cent a year earlier." Not the best stats to have, I imagine.
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Dec 15, 2016 20:57
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James Baud fucked around with this message at 11:16 on Aug 25, 2018 |
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Dec 15, 2016 21:37
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James Baud posted:It's really quite funny that between the "nobody involved in purchase can ever have owned before", "lived in BC 5+ years", "paid taxes at least 2 years" "family income < 150k", and "total price < 750k" requirements, the only people in metro Vancouver who will qualify are singles (or poorly paid 20-something couples) buying a 1-2br condo - precisely the type of "useless" housing that Vancouver already has way too much of because the speculators love 'em. Get them hooked on that sweet, sweet equity while they're young.
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Dec 15, 2016 21:51
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Does seem pretty laser targeted at condos. Both a handout to the agitated millennials and the condo developers at the same time. Well played. Hope you are all cool with the upcoming 1000 year rule of the BC Liberal Party.
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Dec 15, 2016 21:54
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McGavin posted:The max you can withdraw from your RRSP as a first-time homebuyer is 25K, so you'd need 12.5K from somewhere else. Well poo poo, I guess I better see Vancity about a 12.5K downpayment loan.
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Dec 15, 2016 22:01
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