June 21, 2019

Jun 21 23:06 2019 Print This Article

The federal NDP released its platform:

NDP leader Jagmeet Singh said his party would raise corporate taxes to 18% (from 15%) and tax capital gains at a [inclusion] rate of 75%.…The party would maintain the current small business tax rate of 9%.

The NDP would also increase the top marginal tax rate for those making more than $210,000 to 35% from 33%, and implement a 1% wealth tax on “super-rich multi-millionaires with wealth over $20 million.”…Other tax components of the NDP platform include:

A 15% foreign buyers tax on purchases of residential property by foreign corporations or people who are not citizens or permanent residents.

Doubling the Home Buyer’s Tax Credit to a maximum credit of $1,500 from $750.

Allowing income tax averaging for artists and cultural workers.

Ending the stock option deduction.

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PrefBlog is presented as a public service by Hymas Investment Management Inc., Manager / Trustee of Malachite Aggressive Preferred Fundand publisher of PrefLetter, a monthly newsletter directed towards long term buy-and-hold retail investors. James Hymas, president of Hymas Investment Management Inc, with years of experience designing quantitative investment technology and applying this technology to conservative portfolios, seeks to provide institutions and retail investors with the information and advice necessary to produce top quartile returns in the preferred share market without the assumption of excess risk.

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