"Offshore bids price Canadians out of housing market"

theres no real point in owning a house in vancouver, you cant do what you want cause you got a shit ton of idiots for neighbours anyways.

:lol:

well-heeled investors

Where the fuck have you been for the last nearly 30 years? You just arrived on this planet? Or is it a slow week in the news room there at the The Magic Bullet Newsletter?

This was going on back in 86.

Just wtf is one to go then, smart guys?
Oh wait, I know, everones supposed to go live out in the sticks ………

yes we tell you all that life is easier/cheaper out in the sticks but we are pretty sure nobody is actualy gona come out and live in the sticks so people will keep doing the same things they are doing now and wonder why it isn't working

"A 2010 Landcor report into the Metro Vancouver housing market titled "A Decade of Peak Performance" found foreign ownership of residential real estate in Vancouver was "extensive": 2,545 properties with owners from around North America (2,532 of those from the United States, where the highest valued residential property held by an American was $7.17 million), 977 from Asia (609 of those from Hong Kong, where the highest valued residential property held by a H.K. resident was $6.84 million), 527 from Europe (mainly from the United Kingdom, where the highest valued property held by a U.K. resident was $7.55 million) and 302 scattered across some 90 other countries."

http://thetyee.ca/News/2012/03/15/Vancouver-Foreign-Ownership/

Well shit, I would certainly hope that rich people from all over the world would want to buy a place in the second or third best city in the whole freakin world. Quit whining…. maybe you could move to Detroit or Phoenix and see why it's such a good deal.

Better snap this beauty up in Thunder Bay while it's cheap before those damned Chinese get it. I hear the winters are really nice and mild there!

6 bedrooms, 4 bathrooms, 1350 sq ft? :S

6 bedrooms, 4 bathrooms, 1350 sq ft? :S

Imagine a realtor showing it:
R: and here is a walk in closet
U: hmmm, that's a big closet
R: Oops sorry I meant this is another bedroom
U: :lol:

I was more concerned with his use of 2% as an average historical savings account interest rate since 1950.. shit I was getting 3.5 at ING like 4yrs ago..

Capital gains tax.
Look up the rate, and tell me what you take home after paying that highway robbery tax.

Capital gains tax.
Look up the rate, and tell me what you take home after paying that highway robbery tax.

You should start a thread about how capital gains tax is highway robbery. I think it could get epic.

Capital gains is the sort of thing you love when it doesn't affect you.
But the truth is, it effects everyone with a savings account. And for what, so harper can fund his crime bill?

I don't know if you're for or against it based on your reply.

20% ! thats some sweet gravy!

50% of your capital gains are taxable. The tax rate is 50% on capital gains, with applicable taxes already paid being subtracted to give you your tax rate.

So lets say you bought a brand new investment apartment for 200 000 and sold it for 300 000. You have a reported capital gains of 100 000. Of that, 50 000 is taxable. Your PST and GST are now the HST, which counts as a federal tax under this scheme. So, your tax rate would be 50%-12% = 38%. $50 000*.38= $19 000.

If you earned that same $100 000 dollars sitting at a desk for somebody else and had no tax exemptions, you would pay $27 313 in BC. You would pay an additional $2306.70 in CPP contributions, and $839.97 in EI premiums. Since you're in BC, and ya'll love unions, you've got to pay your dues as well… but that's unrelated.

In summary, if you earn $100 000 you take home $69 541

If you make 100 000 on an investment that was previously taxed with HST (at the original investment price) you make $81 000 take home.

What about that sounds unfair to you, hypa? Taxes are the backbone of our society, and we're broke as it is. Just because the idiot we have in office is on a spending spree does not mean that the taxes themselves are inherently bad… I can't think of a faster way to develop wealth inequality further than it already is than axing the capital gains tax. I, for one, hate paying it, but I certainly understand it and wouldn't ever vote to remove it.

gtfo eh? Just wtf is one to go then, smart guys?
Oh wait, I know, everones supposed to go live out in the sticks ………

Live in your mothers basement lined with tinfoil playing Warhammer online endlessly?

50% of your capital gains are taxable. The tax rate is 50% on capital gains, with applicable taxes already paid being subtracted to give you your tax rate.

So lets say you bought a brand new investment apartment for 200 000 and sold it for 300 000. You have a reported capital gains of 100 000. Of that, 50 000 is taxable. Your PST and GST are now the HST, which counts as a federal tax under this scheme. So, your tax rate would be 50%-12% = 38%. $50 000*.38= $19 000.

Say what? That's so wrong on so many levels.

http://www.cra-arc.gc.ca/E/pub/tg/t4037/t4037-e.html#P637_60798

Your capital gains rate is calculated as your inclusion rate (50%) * your marginal tax rate.

HST does not factor into this at all. As a seller, you can subtract the costs of selling from your profit (ie, commissions paid out), but HST is a flowthrough that goes from the buyer to the government.