Quote:
Originally Posted by nation-x
If it's investment property... yes... but you don't pay the tax on the whole amount of the sale in the case of Capital Gains tax... you only pay tax on the actual profit... at the same time you can offset those taxes with losses (like every investor does). If it's your primary residence and you haven't taken the one time tax exemption... then you won't pay ANY tax.
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I still don't see the point in punishing people to invest. The only thing they will do is take their investment money elsewhere. There are dozens of developing countries that have great investment potential. Many people right here on this board are taking advantage of that. If we punish more and more people for investing in our own country, the only thing it's going to lead to is less money.
People with money are not stupid. They go where they will make the most, which is not where taxes are rising.
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