A federal budget personal finance report card

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 47 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 92%

Federalbudget2024 Notícia

Federal Budget,Federal Budget 2024

Housing, taxes, open banking, education: Let’s grade the budget on how it affects you and your household

released Tuesday. Here’s a report card that grades the budget on how it affects you and your household:The headline budget measure is an increase in the inclusion rate for capital gains to two-thirds from one-half for gains above $250,000, starting June 25. A capital gain occurs when you sell an asset for more than you paid. The inclusion rate is the portion of the gain that is taxable.

The capital gain on sale of a principal residence remains tax-free. Now, the government is providing a disincentive to invest in additional real estate. Introducing the higher inclusion rate in June gives people time to realize capital gains now and use the current inclusion rate.The government has set a goal of building 3.9 million homes by 2031, which in pure economic terms should help affordability. Build supply to satisfy demand and prices should stabilize over time.

Modest down payment help is coming through an immediate boost in the amount first-time buyers can withdraw from a registered retirement savings plan under the federal Home Buyers’ Plan. The limit goes to $60,000 from $35,000, and HBP users will temporarily have three years added to the current two-year grace period for starting repayment of money into an RRSP. The longer grace period applies to withdrawals under the HBP in 2022 through 2025.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 5. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Housing market accelerates recovery with jump in housing startsHousing starts rebounded in February, surging by 10.7%— signaling a recovery in the housing market. This resurgence was primarily driven by single-family...
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »