TV/Movies Megathread

[HVC]

Reversing it is dumb if it is indeed a loophole. Just raise the cutoff.

It's probably my bias, but when I lived in farm country farmers would cry poor while driving into town to cash their grants in fancy new cars itching to get back home to their newly built McMansions

[HVC]

Yes. It's good. He does a nice job in showing the importance of very left wing things to his core right wing audience.

Though I am skeptical of this series. He has been part of the silly reaction to asking wealthy farmers to pay a little inheritance tax.

Around here, we try to foster in family inheritance of farms. Why are you guys looking to have them sold to Chinese interests?

While Canada doesn't have an inheritance tax, it kind of does since the estate pays it before the person inherits it. There are a few exemptions. I know about primary residence and spousal deferals. I just looked up farms and got this:

"Lifetime Capital Gains Exemption (LCGE): For eligible assets like Qualified Small Business Corporation Shares (QSBCS) or Qualified Farm and Fishing Property (QFFP), the CRA allows a major capital gains exemption of up to $1.25 million"

And that's on the capital gains, so 50% of actual gains. With the crazy increase in property values the next generation of farmers might be screwed.

So basically Canada has what the UK was trying to do.

Double caveat this time. Standard google warning plus adding that I'm not a tax expert so bare that in mind

[Grey Fox]

Yes. It's good. He does a nice job in showing the importance of very left wing things to his core right wing audience.

Though I am skeptical of this series. He has been part of the silly reaction to asking wealthy farmers to pay a little inheritance tax.

Around here, we try to foster in family inheritance of farms. Why are you guys looking to have them sold to Chinese interests?

Eh?
We aren't. Where are you getting this?

Sheilbh provided more information about the UK government uturn on this but if farmers kids can't inherit their parents farms, the farms get sold. China is spying all over you guys so I was making a play on that.

As to where I get this : This thread & I finished episode 2 of Clarkson's farm season 5.