Bad day for Entrepreneurship in Canada 🇨🇦👎. Capital gains tax rate is increasing from a 50% inclusion to 66%. This increases the net capital gains tax rate from 27% to 36%... Compared to the US which has a 20% capital gains tax rate (+ major incentives like QSBS) In my conversations with Canadian entrepreneurs, it's clear: They're feeling less motivated to build businesses here when moving just a bit south could mean saving a lot more.
@Armon_Sho California: Nobody can run people away like we can. Canada: Hold my beer.
@rockspringsfarm @Armon_Sho And just like California, the vast majority of important companies will stay
@rockspringsfarm @Armon_Sho Canada is still better than top California brackets. Don’t forget Obamacare and Medicare surcharges
@rockspringsfarm @Armon_Sho How many people will be affected by these changes?
@rockspringsfarm @Armon_Sho It’s the inclusion rate, not the tax rate.
@rockspringsfarm @Armon_Sho Ah yes california the famously empty and non productive state