[Source - Dave Cooper, edmontonjournal.com]
Ottawa could help Canadians cut carbon dioxide emissions and stimulate the economy by adopting a tax deferral plan that would allow investors to sell properties without facing an immediate tax hit if they reinvested in real estate, says the Canadian Real Estate Association.
The proposal would defer both the capital gains and capital cost allowance recovery when an investment property is sold and the proceeds are invested in another property within the year. This would stimulate investment and help regenerate aging urban communities, but could cost the federal government about $425 million in immediate tax revenue.
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