Comment 59998

By A Smith (anonymous) | Posted February 18, 2011 at 20:31:38 in reply to Comment 59996

Tybalt, this is what I said...

"perhaps, it has to do with government policies that tax property investment at high rates"

this is what you said...

"Property investments aren't taxed at high rates. They are taxed at low rates. Particularly given that capital appreciation is only half taxed, and then is deferred until disposition."

Just to be clear, I was talking about PROPERTY TAXES, not capital gains taxes. Didn't you notice I compared downtown Hamilton to other local areas. Why would I have done that if I was talking about capital gains tax, which is uniform across the province?

My point was that Hamilton's high PROPERTY TAX rates reduce after tax equity gains on property investments. Thus if the goal is to increase property investment, we might want to lower the tax rate and increase the after tax gain.


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