this post was submitted on 02 Aug 2023
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Experts say Ottawa's role in housing sector has grown (Richard Raycraft Β· CBC News)

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[–] [email protected] 7 points 1 year ago* (last edited 1 year ago) (1 children)

The feds could remove the tax credits on home ownership for houses over a certain price.

There would be a strong incentive to build less expensive housing if mortgage interest wasn't tax deductible and sellers had to pay capital gains on the full ~~sale price~~ profit of the sale.

Edit: I worded that badly. Sellers should pay capital gains taxes on the profit of the sale, not the sale price. Thanks to u/TemporaryBoyfriend for pointing that out.

[–] [email protected] 2 points 1 year ago (1 children)

pay capital gains on the full sale price

Then it's just a flat rate tax, not a tax on the 'gain' of the 'capital'.

[–] [email protected] 1 points 1 year ago

You're right, I phrased that wrong. It should be capital gains on the profit.