Ottawa urged to defer capital gains on rental property sales

[KMcFarlane]

http://www.canada.com/edmontonjournal/news...1a-1da6b2742bd9

 

[DonCampbell]

I urge us all to do the same as the deadline for their pre-budget review is midnight February 11th. Be active, be heard. Contact your MP and the Finance Department today.

The annual consultation process allows interested Canadians to submit their ideas through the Department of Finance`s Web site.

In 2007, almost 8,000 Canadians participated in the online consultation process, providing a wide range of ideas from debt reduction and restoring fiscal balance to suggestions for tax cuts.

If you don`t participate in the potential profitability increase in your business, you can`t complain when a bad rule/law comes in.

Post what you sent in this thread as well.

 

[TorontoMike]

QUOTE (KMcFarlane @ Feb 1 2008, 03:46 PM) http://www.canada.com/edmontonjournal/news...1a-1da6b2742bd9


Any idea whether this will be revisited in 2009 or was this idea thrown out?? Wouldn`t it be similar to a 1031 exchange in the US?

 

[ToddStokowski]

We will see in the Budget, which will be delivered next week, if the Capital Gains Deferral was included or not. If it`s not in this year`s Budget, then the lobbying for the 2009 Budget will start again.

The concept is similar to that of the 1031 Exchange in the USA.

Todd Stokowski, CA

 

[EdRenkema]

http://www.nationalpost.com/opinion/story.html?id=334385

Check nationalpost.com today after 4 pm EST to see how this plays out. Jim Flaherty promises a budget focused on restraint, I wonder how pre-election promises play into that?

Ed R