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Bad Tax Planning
Manage episode 449589247 series 3614583
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Kim Moody of Moodys Private Client – a firm providing law, and cross-border tax and accounting services joins Darren on this episde.
Moody recently wrote an article in The Financial Post about the government flirting with the idea of a home equity tax, even on principal residences. Such a tax could result in an annual levy of about $10,000 for a home worth $1 million. He called that, along with the increase in the capital gains inclusion rate which has already passed into law, “really bad tax planning” based on ideology and not economics.
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