Heritage is an interesting way to store money, making it old and not taxable.
Estates are non-profit systems that will buy anything for the inheriting (inheritance is not taxed in Canada).
So called “Socialists” will tax the crap out of you if you earn for a living, however, if you get it because you were born to it, to keep the ancient old money traditions going, you pay nothing.
No surprise in a system devised by Monarchists.
If you earn enough in a savings account (aside from a special TFSA) as an individual you may be seeing a tax at the end your rainbow. Retired people who scraped together a little land and work extra jobs and even get retirement are being fucked by taxes.
Yet, if you inherit and just live off it, earning nothing, you will never see a tax.
If anything, they need to stop taxing any interest gained by individuals, regardless of accounts. Stop taxing individual earnings, and target money that is merely inherited.
Why does Vancouver City Hall, the Province, even Federal Government screw you all over, and let old money live it up for nothing? Not even efforts.
Tax Estates, single digits a year, allow property upkeep spending write-offs, also inheritance gained outside of a Estate, that are more than one generation old.
Not the individual who earns interest or through work, new money should be encouraged, not punished. If they insist on still taxing individuals then a single digit flat % on annual gains alone should be the limit with a 50,000 single and only deductible. The latter is a pragmatic suggestion I rather despise even entertaining.
A single 1% on business sales of Product, Service, Shares, Stock, or Franchise Fee. Is reasonable.
No taxes on individual land, when not inherited.