New Rules for Capital Gains In Canada - PEOPLE ARE MAD | Episode 51

In episode 51 of the Toronto Livings Podcast, hosts Mark Savel and Joey Virgilio delve into the heated topic of Canada's new federal budget, specifically focusing on the controversial changes to capital gains tax and the introduction of a vacant home tax in Toronto. They discuss the public's frustration over these changes and their potential impact on homeowners, investors, and the real estate market. Additionally, the episode covers updates to the Home Buyers' Plan, allowing higher withdrawals from RRSPs for first-time homebuyers. The hosts share personal experiences and opinions on how these changes could affect the rental stock and motivate property owners. The episode also includes lighter segments such as food recommendations in Toronto and reflections on reaching their 51st episode, plus a missed opportunity to discuss aliens in connection with Area 51. (00:00) Celebrating Episode 51: A New Milestone (00:35) Foodie Adventures: From Pastiche to Otto's Berlin Donar (00:44) Diving into Toronto's Real Estate and Culture (08:34) Reflecting on Episode 50 and Addressing Mistakes (16:41) The Vacant Home Tax Drama: Toronto's Real Estate Woes (19:26) Debating the Vacancy Tax and Government Inefficiency (19:53) The Flaws in Public Awareness and Program Implementation (23:15) Shifting Focus: The Federal Budget and Its Impact (23:57) Exploring the RRSP Homebuyers Plan Changes (28:12) Amortization Adjustments and Their Real Impact (29:27) Capital Gains Tax: A Controversial Proposal (32:27) The Potential Consequences of Capital Gains Tax Changes (38:25 Voices from the Community: Reactions to the Proposed Tax Changes (43:49) Concluding Thoughts and Shoutouts Show Notes Ottos Berlin Donar 256 August Ave. https://ottosdoner.com/ Pastiche 59 Ossington Ave https://www.pastichenoshery.com/ The Real Agent Podcast https://podcasts.apple.com/ca/podcast/the-real-agent/id1688047398 Where You Can Find Us 🏡 For all your Toronto Real Estate Needs: TorontoLivings.com/ 🖥️ Instagram Mark Savel: https://www.instagram.com/torontolivings/ Joey Virgilio: https://www.instagram.com/joey_torontolivings/ 🎙 Weekly Podcast https://podcasters.spotify.com/pod/show/toronto-real-estate