Canadian Conservative. Hate our Liberal government but love my country. Vote for fiscal responsibility not woke, wasteful policy.
West of Ontario
Joined January 2022
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Virtue signaling 🇨🇦 puts out stamp to commemorate their ties to Communist 🇨🇳
cbc.ca/news/canada/british-c…
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Defend Canada 2.0 retweeted
🇨🇦 A CANADIAN FAMILY INHERITS A $900,000 COTTAGE.
THE CRA CAN TRIGGER A SIX-FIGURE TAX BILL WITHOUT ANYONE SELLING IT.
And most Canadians don’t realize this can happen.
Imagine a couple who bought a small Ontario cottage 30 years ago.
They paid $200,000.
Raised their children.
Spent every summer making memories by the lake.
Today, the cottage is worth $900,000.
The mortgage is paid off.
Their dream is to leave it to their children.
Sounds wonderful, right?
Except there’s something hiding in Canada’s tax system.
It’s called DEEMED DISPOSITION.
When the surviving owner dies, the CRA generally treats the cottage as though it were sold at fair market value.
Even if nobody actually sells it.
Even if the children simply inherit it.
Let’s do the math.
🏠 Original purchase price: $200,000
📈 Current market value: $900,000
💰 Capital gain: $700,000
💸 Taxable gain at 50% inclusion: $350,000
🏛️ Illustrative income tax at 40%: $140,000
Read that again.
A $140,000 TAX BILL WITHOUT A SINGLE DOLLAR IN SALE PROCEEDS.
And here’s what most people miss.
Canada doesn’t generally impose a separate federal inheritance tax.
But that doesn’t mean inherited property is free from tax consequences.
The tax is generally payable through the deceased owner’s final tax return, with the estate responsible for settling it.
Now imagine the children want to keep the cottage.
They have mortgages.
Families.
Bills.
Where does the estate find $140,000?
Sell investments?
Borrow against the property?
Or sell the cottage altogether?
That’s the uncomfortable reality.
YOU CAN INHERIT A MILLION-DOLLAR PROPERTY WITHOUT INHERITING THE CASH NEEDED TO KEEP IT.
Now, there are important exceptions.
Transfers to a surviving spouse can defer capital gains.
The principal residence exemption may reduce or eliminate the tax.
And documented improvements can reduce the taxable gain.
But these require planning.
And that raises a bigger question.
WHY DO WE SPEND DECADES BUILDING FAMILY WEALTH WITHOUT PLANNING FOR THE COST OF PASSING IT ON?
Because owning an asset and having the cash to preserve it are two very different things.
YOU SPEND 30 YEARS PAYING OFF THE FAMILY COTTAGE.
YOUR CHILDREN MAY STILL NEED A LOAN JUST TO KEEP IT.
🍁 @wealthmoose
I find this very hard to believe. The beautiful thing about numbers is you can twist them to support your narrative ...
Canada’s tax rate is now better than the U.S. and Europe - Financial Post financialpost.com/personal-f… via @GoogleNews
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More of our money out thw window.
Ottawa wrote off $4.5B in COVID benefit repayments last year: auditor general share.google/8gROrsao58TFuMg…
Anyone want to bet the numbers are even more idiotic in Canada? FFS what a future we have 🤪
A new poll of American college students found:
22% believe America deserved 9/11.
42% prefer socialism over capitalism.
38% consider Palestine a better US ally, compared to just 25% for Israel.
40% support criminalizing offensive speech.
Nearly 3,000 Americans were murdered by Islamist terrorists on 9/11, and more than 1 in 5 college students think America deserved it.
What on earth are American universities teaching these kids?
nypost.com/2026/11/11/us-new…
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Another "Thank you Alberta" moment 🙏
Hunters, farmers, sport shooters and collectors are not the problem.
Alberta is intervening in the Supreme Court of Canada appeal of Ottawa's 2020 firearms ban, because targeting law abiding firearms owners does nothing to make our communities safer. Real public safety means going after violent criminals and illegal gun traffickers.
Alberta has already said no to the federal confiscation scheme under the Alberta Sovereignty within a United Canada Act. Now we're taking Alberta's case to the highest court in the country.
To every Albertan who owns firearms safely and responsibly: your provincial government has your back.
See more details: alberta.ca/release.cfm?xID=9…
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Thanks to Winnipegers afflicted with TDS, Hellebuyck left the team. Nothing but class from this man, even when facing a hostile crowd. I wish him all the best.
winnipegsun.com/sports/winni…
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Insanity. The CAO claims the city is "growing". What happened to SUSTAINABLE GROWTH?
calgaryherald.com/news/calga…
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Canada, where they pick a news anchor that can barely speak English to report on President Trump 🤪
ctvnews.ca/world/article/ufc…
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Welcome to 🇨🇦 where any post about Muslims is Islamophobia.
toronto.citynews.ca/2026/11/…
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Canadian border only has rules if you're caught. Even then its a slap on the wrist if you're an immigrant!
cbc.ca/news/canada/calgary/c…
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They are Indians.
Not Winnipeggers.
cbc.ca/news/canada/manitoba/…
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Players are pawns in a Political game. Sad.
Sweden says it won’t play Russia at world juniors as Norway faces losing spot | Globalnews.ca share.google/9nsAoFsi2SQ4IBg…
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Tarrifs are a tax on American consumers. No one on the left or the right likes that. Nearly two-thirds of Republicans said tariffs imposed under Trump had increased prices.
nationalpost.com/news/a-trum…
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End of Summer Giveaway - 5 Lucky Winners will Receive an AAAA Ounce #giveaway #win kingsumo.com/g/1j2noe3/autum…
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