National
Trudeau must prove he won’t tax our homes
From the Canadian Taxpayers Federation
Author: Franco Terrazzano
Actions speak louder the words. That’s especially true when those words come from a politician with a track record of breaking promises and hiking taxes.
Prime Minister Justin Trudeau says he won’t send the taxman after Canadians’ homes. But if Trudeau wants Canadians to believe he won’t impose a home equity tax, there’s one thing he must do: end the CRA’s home reporting requirement.
In 2016, the Trudeau government made it mandatory for Canadians to report the sale of their primary residence even though it’s tax-exempt. If you sell your home, the CRA wants to know how much money you received from that sale. But if the taxman isn’t taxing it, why is the taxman asking that question? Is the CRA just curious?
Official Opposition Leader Pierre Poilievre confirmed to the Canadian Taxpayers Federation he would remove this reporting requirement if he forms government.
Trudeau must do the same. Otherwise, Canadians should worry a home equity tax is right around the corner. As Toronto Sun Columnist Brian Lilley recently wrote, “For Justin Trudeau and his Liberal Party, taxing your primary residence is a bad idea they just can’t quit.”
On June 25, Trudeau attended “a private town hall about generational fairness,” hosted by Generation Squeeze, a group advocating for home taxes.
What do you notice about the theme of that town hall? The government recently used the cloak of generational fairness to impose its capital gains tax hike.
The Trudeau government also spent hundreds of thousands funding and promoting a report from Generation Squeeze that complained of the “housing wealth windfalls gained by many home owners while they sleep and watch TV.”
The report recommended charging a tax on the value of homes above $1 million. The tax would cost Canadians up to $5.8 billion every year, and it would hit many normal Canadians. In British Columbia and Toronto, the typical home price is above $1 million.
Trying to improve affordability with tax hikes is like trying to boil water with your freezer. Higher taxes won’t make homes affordable. Consider this insight 50 pages into the report.
“Owners of homes valued over $1 million that include informal rental suites may try to recover the surtax by passing some of its cost on to renters,” reads the report.
It turns out higher taxes can make things cost more.
The head of Generation Squeeze was invited to a cabinet ministers’ retreat in Charlottetown last summer.
Documents uncovered by the CTF show staff in the prime minister’s office met twice with the head of Generation Squeeze, which included “a briefing about the tax policy recommendation.”
Trudeau has an appetite for taxing people’s homes. His recent capital gains tax hike will impact Canadians who sell secondary residences and cottages. He imposed a so-called anti-flipping home tax. And Trudeau taxes homes the government deems “underused.”
With Trudeau scrounging through the couch cushions looking for more money to paper over his deficits, Canadians should worry a home equity tax is next.
A home equity tax would come with a big bill for a young couple looking to upgrade to a family home or for grandparents who rely on the equity in their home to fund their golden years.
As an example, Canadians that bought their Toronto home for $250,000 in 1980 and sold it for $1.2 million today would pay between $50,000 and $190,000, depending on the type of home equity tax.
The Trudeau government has repeatedly flirted with home equity taxes. The only way for Trudeau to put Canadians’ minds at ease is to act and remove the requirement for taxpayers to report the sale of their home to the CRA.
From LifeSiteNews
“Hey Russians! Where the hell is my money?!”
Prime Minister Justin Trudeau claimed U.S media personality Tucker Carlson and popular Canadian psychologist Dr. Jordan Peterson are being funded by a Russian-state-funded news site, blaming the foreign nation for “amplifying the chaos” surrounding the 2022 Freedom Convoy protests.
Trudeau made the claim Wednesday during under oath testimony at the Foreign Interference Commission, after he was asked about Russia’s alleged role in the Freedom Convoy.
Trudeau said, while speaking in French, that he “certainly agrees that Russia amplified the chaos, disagreements and divisions in Canada surrounding the convoy.”
Trudeau added that “Russian activities related to propaganda, disinformation and misinformation are quite constant in our social media and within Canadian democracy.” He then claimed that it was “Russian propaganda” that “greatly amplified” opposition to the COVID shots which was spread by “right-wing media.”
He then claimed that Russian state-funded broadcaster Russia Today (RT) was funding Carlson and Peterson, saying, “We saw many of these channels shift to pro-Putin propaganda.”
“We recently saw that RT is funding right-wing bloggers and YouTube personalities in North America,” said Trudeau, adding, “including well-known names like Jordan Peterson or Tucker Carlson to amplify messages that destabilize democracies.”
Trudeau’s comments were immediately blasted by Peterson.
“Hey Russians! Where the hell is my money?!” he wrote on X Wednesday about Trudeau’s accusatory comments.
Hey Russians!
Where the hell is my money?!@justintrudeau strikes again
Whiffing at a foul ballhttps://t.co/cQgdC2Cx2H— Dr Jordan B Peterson (@jordanbpeterson) October 16, 2024
Peterson then joked that a bunch of Russian “Rubles” are stuffed in his bed.
Peterson’s daughter also took to social media, suggesting that Trudeau’s comments might warrant a lawsuit from her father.
“This might be worth suing about,” wrote Mikhaila Peterson on X.
This might be worth suing about. As much fun as lawsuits are, this seems like an easy one.
— Mikhaila Peterson (@MikhailaFuller) October 16, 2024
“As much fun as lawsuits are, this seems like an easy one,” she added.
As of press time, Carlson, who has been an open critic of the prime minister, has yet to issue a statement in response to Trudeau’s allegations.
Currently, the Commission on Foreign Interference, which is largely focused on Chinese meddling in Canadian politics, is taking place in Ottawa, headed by Justice Marie-Josée Hogue. She had earlier said she and her lawyers will remain “impartial” and will not be influenced by politics. In January, Hogue said that she would “uncover the truth whatever it may be.”
The commission was struck after Trudeau’s special rapporteur, former Governor General David Johnston, failed in an investigation into CCP allegations last year after much delay. That inquiry was not done in public and was headed by Johnston, who is a “family friend” of Trudeau.
Johnston quit as “special rapporteur” after a public outcry following his conclusion that there should not be a public inquiry into the matter. Conservative MPs demanded Johnston be replaced over his ties to both China and the Trudeau family.
The potential meddling in Canada’s elections by agents of the CCP has many Canadians worried as well.
As for Trudeau, he has praised China for its “basic dictatorship” and has labeled the authoritarian nation as his favorite country other than his own.
Peterson for his part has been critical of Trudeau and his Liberal government for years.
From the Fraser Institute
When federal Environment Minister Steven Guilbeault recently criticized Conservative Leader Pierre Poilievre for hosting a fundraiser that included an oil company executive, he raised an interesting question. How should our politicians—of all parties—engage with Canada’s natural resource sector and the industry leaders that drive our natural resource economy?
Consider a recent report by the Chamber of Commerce, entitled Canada’s Natural Wealth, which notes that Canada’s natural resources sector contributed $464 billion to Canada’s economy (measured by real GDP) and supported 3 million jobs in 2023. That represented 21 per cent of the national economy and 15 per cent of employment.
Within the natural resources sector, mining, oil and gas, and pipeline transmission represent 45 per cent of all GDP impact from the sector. Oil and gas production accounted for $71 billion in GDP in 2023. If you throw in the support sector for oil and gas production, and for manufacturing petroleum and coal products, that number reaches nearly $100 billion in GDP.
Shouldn’t any responsible leader want to regularly consult with industry leaders in the natural resource sector to determine how they can facilitate expansion of the sector’s contribution to Canada’s economy?
The Chamber also notes that the natural resource sector is a massive contributor to Canada’s balance of trade, reporting that last year the “sector generated $377 billion in exports, accounting for nearly 50% of Canada’s merchandise exports, and a $228 billion trade surplus (that is, exports over imports) —critical for offsetting trade deficits (more imports than exports) in other sectors.”
Again, shouldn’t all government leaders want to work with industry leaders to promote even more natural resource trade and exports?
The natural resource sector also accounts for one out of every seven jobs in Canada’s economy, and the wages offered in the natural resource sector are higher than the national average—annual wages in the sector were $25,000 above the national average in 2023. And workers in the sector are about 2.5 times more productive, meaning they contribute more to the economy compared to workers in other industries.
One more time—shouldn’t all of Canada’s political leaders, regardless of political stripe, want to work with natural resource producers to create more high-paying jobs for more Canadians?
Finally, the Chamber of Commerce report suggests that some environmental policies require swift reform. Proliferating regulations have made investing in Canada a “riskier and more costly proposition.” The report notes that carbon pricing, Clean Fuel Regulations, proposed Clean Electricity Regulations, proposed federal emissions cap and proposed methane regulations all deter investment in Canada. Which means less economic opportunity for many Canadian workers.
With so much of Canada’s economic prosperity at stake, it’s not improper—as Guilbeault and others suggest—for any politician to meet with and seek political support from Canada’s natural resource industry leaders. Indeed, to not meet with and listen to these leaders would be an act of economic recklessness and constitute imprudent leadership of the worst kind.
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