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Stock impact report

With capital-gains hike, Ottawa manipulates markets to score small, arbitrary goals [Globe and Mail, The (Toronto, Canada)]

Toronto Dominion Bank (The) (TD) 
Last toronto dominion bank (the) earnings: 2/27 06:30 am Check Earnings Report
He was previously chief economist at Toronto-Dominion Bank and associate deputy minister at Finance Canada. Many have opined that the proposed increase in the capital gains inclusion rate is bad tax, fiscal and economic policy. We need to add to that refrain: The implementation scheme amounts to market manipulation for insignificant and arbitrary fiscal goals through cynical pre-legislation enforcement. In last week's budget, Ottawa raised the taxable amount when selling capital assets such as stocks. For businesses, and for individuals beyond a threshold, two-thirds of capital gains would be taxed, up from half. The budget set June 25 as the effective date. Why did the government set such a deadline? One guess is that the government felt some guilt over this and offered a narrow window of escape. But few points should be awarded for such thinking, as the escape is only available for certain assets. The window is generally too tight for third-party dispositions of real prope Show less Read more
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