Save TFSA, no to land transfer tax grab

There are a lot of yes women and yes men in the Ontario government and, now thanks to the recent election, at the federal level, too.

Christmas has come early for Canadians because the promises in the Liberal platform come to a grand total of 325.  That’s a lot of yeses.  Since only 6,930,136 Canadians (39.5%) voted Liberal, it will be up to the rest of us to counter all those yeses with some measured nos.

Here’s a starting point.  The newly elected Liberal federal government may reduce the contribution limit on Tax Free Savings Accounts (TFSAs) back to $5,500 from the current $10,000.  As the Working Canadians site states:  “Introduced in 2009, the TFSA permits the 80% of Canadians who do not work in government to save their own money for a decent retirement.”  If you care about your retirement go to WorkingCanadians.ca, or search “Save our TFSA,” and add your name to the petition.  It takes a few seconds.

The next one is an Ontario issue.  We need to say no to the land transfer tax grab that is coming to a municipality near you.  According to the CIBC, most real estate markets in Ontario are not going great gangbusters.  If the land transfer tax is added, it could dampen sales even more.  Go to DontTaxMyDream.ca.

Thank you!

 

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