Is a home equity tax right just around the corner so Trudeau can paper over his deficits?
Actions speak louder than words. That’s especially true when those words come from a politician with a track record of breaking promises and hiking taxes.
Prime Minister Justin Trudeau says he won’t send the taxman after Canadians’ homes. But if Trudeau wants Canadians to believe he won’t impose a home equity tax, there’s one thing he must do: end the CRA’s home reporting requirement.
In 2016, the Trudeau government made it mandatory for Canadians to report the sale of their primary residence even though it’s tax-exempt. If you sell your home, the CRA wants to know how much money you received from that sale. But if the taxman isn’t taxing it, why is the taxman asking that question? Is the CRA just curious?
Conservative Leader Pierre Poilievre confirmed to the Canadian Taxpayers Federation (CTF) that he would remove this reporting requirement if he forms the government.
Trudeau must do the same. Otherwise, Canadians should worry a home equity tax is right........