The Trudeau Liberals announced that you now have to report the sale of your home on your income tax return.
Up until now when you sell your ‘primary residence’, you didn’t have to pay any taxes on the money you may have made.
We’ve always had this tax exemption, and before now you never had to report the sale, because there were no taxes to be paid.
When the Liberals announced the home registry they claimed it was to ensure Canadians didn’t have to pay tax
But this week in Question Period the Liberal Minister of Finance stated there are “exemptions to the exemptions”.
If you work from home, you are now an exemption to the exemption, and Trudeau’s latest Tax Target.
The percentage of square feet you work from home in, or run your business from, is now taxable.
This sneaky stealth tax deserves entry into the Liberal Hall of Infamy.
While we have been fighting in Parliament, and you have been writing Trudeau asking him to not bring in any new taxes in the next budget, they just slipped this one into an announcement about mortgage rules.
Two days in a row this week the issue has been raised, and not a peep out the mainstream media.
If we are going to have any chance of getting this stealth tax repealed we need to spread the word ourselves.
Share this post and just say no to a #StealthTax on your home.