@chek.news: Gary and Liz McLeland do everything they can for their son Tim. He’s physically healthy but was born with Down syndrome and was later diagnosed with autism. He’s 31 but functions more like a five-year-old and needs constant care and supervision. “When he was about 10, there was a recommendation about setting up a trust for him that would be used to pay for expenses in his adult life, so it was a long-term kind of thing,” Gary explained to CHEK News. It was funded by friends of theirs two decades ago, but now, almost 21 years later, they’re faced with the realization that next year, on the 21st anniversary, under Canada Revenue Agency rules, they have to pay tax on the accrued capital gains. #News #CHEKNews #CampbellRiver #VancouverIsland #BC #BritishColumbia #Canada #CapitalGains #Tax #CapitalGainsTax #DownSyndrome #Autism

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Monday 13 May 2024 17:00:00 GMT
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mattireland98
matttrr :
if they had set it up as an rdsp within a tfsa, they would've benefited from up to 90k in fed grants and been sheltered from taxes
2024-05-13 21:18:34
35
.vaginasonlsd
.vaginasonlsd :
This is misleading. The capital gains tax only affects 0.13% of the population. It’s a tax for the rich. If you’re poor ignore this, it’s rich ppl propaganda to make u mad when it doesn’t affect you
2024-05-13 19:53:11
29
nerdiefoody
nerdiefoody :
The family has probably been using his ‘fund’ to hide their own wealth and skip on some taxes ✌️
2024-05-13 17:40:02
23
laminatedbears
laminatedbears :
Just a reminder that if you’re affected by this increase, you are not one of the poors.
2024-05-13 18:00:52
18
kitchenwitchcollective
Justme :
First this is very misleading on what the new tax rates are and also they want to use supports paid for by taxes but not have to pay taxes? Seems a little out of touch I’m a disabled single mom *
2024-05-13 17:45:49
18
glass_casket
Glass :
the inclusion rate is 66% over 250k that's not the tax rate
2024-05-13 17:37:08
13
watanabe1989
electronic result :
so he is partially atleast cared for by provincial government services, but they moan when they have to pay taxes on what sounds like a humongous sum of money if they are concerned about these changes
2024-05-13 18:07:02
12
samuraipizzacat71
ewwie :
people think that they're being taxed at 50 or 67% on capital gains. no it means that portion of the gain is taxed at your marginal rate which is much much lower (depending on your inc of course obv)
2024-05-14 17:17:07
8
jesseburnettkenny
Jesse K 🇨🇦 🏳️‍🌈 🏳️‍⚧️Ally :
Except they won’t be pulling out over 250,000 a year? And it’s increasing the amount of money that has to be taxed. It’s not the tax itself.
2024-05-13 17:08:01
8
jillybohac
Jilly Bohac :
We are in the same boat . My husbands trust will be hit hard
2024-05-14 00:38:30
7
donjensonmotors
DonJensonMotors :
So we shouldn’t increase the taxes cause one family is going to pass down a house to their disabled son who will have to sell cause he isn’t able to work and therefore we shouldn’t tax anyone ?
2024-05-13 20:03:16
6
helynjohnson226
🇨🇦Helyn🇨🇦 :
I am sick to death of seeing people work so hard for their money, and then have the damn government come and take it, absolutely disgusting.
2024-05-13 17:06:12
6
lisajzzlb17
kova :
Hi from your old neighbours Pete and Lisa - we’ve lived in Calgary since 2008. Hugs to you both.
2024-05-14 00:28:01
4
kknott82
Katie Knott :
Could it be set up as a non profit dedicated to him? I think even taxed for this at 50% would not be fair.
2024-05-13 20:31:20
4
seriouslybasty
Katie Bast :
She should have gotten a Hansen trust fund. It’s set up for individuals with disabilities. Also his capital gains would have to be over 250000 a year for it to increase.
2024-05-13 21:36:27
3
fixcanadaselections
FixCanadasElections :
This is probably 1% of the cases. Media elite trying to do everything to avoid paying their fair share of tax.
2024-06-05 23:33:15
1
mcmummylicious
Spudginger 🇨🇦 🍁 :
they won't respond. more are employed within the CRA than in all the Armed Forces
2024-05-31 21:04:33
1
voidpuppet
void puppet :
Ok but next time I’m in Campbell river I wanna jam with him and his accordion
2024-05-31 14:49:15
1
gaborevely
gaborevely :
Anyone who voted liberal before, I’m sure they won’t be voting liberal ever again.
2024-05-18 04:16:45
1
toquinho4419
Toquinho :
These Liberal/NDP CLOWNS have to GO!
2024-05-13 23:42:53
1
brixtrix1_magi
Brix Carlisle :
we need a federal persons with disabilities act
2024-05-13 22:42:09
1
blindlee_obey
Blindlee_Obey :
It's about grabbing cash for an extremely large and inefficient government, it's never about helping the citizens 💯.
2024-05-13 22:32:54
1
niseyac
Nisey :
😳 Capital gains taxable at this amount is if it is over 250,000.00. Something fishie?
2024-05-13 21:37:31
1
harleywalsh03
user9270718736705 :
it's really not different at all you invested money to pay for future expenses Trudeau changed the tax regime on that same for everybody autism doesn't make any difference at all
2024-05-13 20:19:58
1
murphyboyproductions
Jamie :
Unfortunately, the BC voting population voted in favour of this government and its policies.
2024-05-13 18:03:11
1
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