One economist warned the reversal on capital gains changes would leave a sizeable hole in the budget that would require new revenue sources or significant spending cuts to fill.
At the very least, it probably didn’t bother that many people aside from the obviously targeted ones. But it’s a classic political ploy to set oneself up to be able to say something generic about having a record of reducing taxes while leaving out for whom it was the taxes were cut.
If I remember correctly, it’s somewhat controversial amongst family farmers who want to leave the farm to their children, so the Cons may think it plays well to their base from that angle.
family farms are a tiny part of the ag industry. In the US it was under 10%. The image of a pastoral low-intensity 19th century family farm has been drilled into peoples’ minds by food industry advertising for 100 years. People like that image but it’s not real.
Ag is big business. Loans and leases for land, equipment, inputs, most of the labour isn’t from the business operator.
There’s probably under 10k family farms in Canada that would be impacted by a transfer to family and they can easily be exempted, it’s chump change for tax revenue.
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Wasn’t this a popular tax change?
At the very least, it probably didn’t bother that many people aside from the obviously targeted ones. But it’s a classic political ploy to set oneself up to be able to say something generic about having a record of reducing taxes while leaving out for whom it was the taxes were cut.
If I remember correctly, it’s somewhat controversial amongst family farmers who want to leave the farm to their children, so the Cons may think it plays well to their base from that angle.
family farms are a tiny part of the ag industry. In the US it was under 10%. The image of a pastoral low-intensity 19th century family farm has been drilled into peoples’ minds by food industry advertising for 100 years. People like that image but it’s not real.
Ag is big business. Loans and leases for land, equipment, inputs, most of the labour isn’t from the business operator.
There’s probably under 10k family farms in Canada that would be impacted by a transfer to family and they can easily be exempted, it’s chump change for tax revenue.