The federal government's increased capital gains inclusion rate has taken effect as of Tuesday. For people selling valuable properties in the Ottawa Valley, like cottages, it will mean an extra expense.
It means two thirds of profits over $250,000 made from sales will be subject to a federal tax. Previously only 50 per cent of gains over $250,000 were taxed.
"This place is very modest. Now, the reason it has value, though, it's not necessarily these buildings. It's the land," Cooligan said. "Yes, there will be capital gains for me. Yes, I'll pay it. And yes, it will be more than if I had sold last year." "Once we had the announcement, a lot of listings went up, and I would say deliberately under evaluated just to make sure that they sell it ."
'Not the result we wanted': Trudeau responds after surprise Conservative byelection win in Liberal stronghold A vacant building known to be the home of vagrants in St. Thomas has gone up in flames. On Monday night around 11 p.m. the St. Thomas Fire Department was called to an abandoned building belonging to CN Rail at the north end of St. Catharine Street.
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