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Friday, September 24, 2021

Claims of a capital gains tax on home sales

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TORONTO — Conservative Leader Erin O’Toole is accusing the Liberals, once again, of planning to impose a capital gains tax on people who sell their homes.

Liberal Leader Justin Trudeau has repeatedly denied it.

In a video posted by the Conservatives, one of Trudeau’s own candidates — Jason Hickey of New Brunswick — appeared to support the idea.

“Of course, anyone selling their primary residence, you do make money on that so unfortunately you will have to pay tax on that; I wouldn’t agree to that either but it’s what we have to do,” Hickey said in the video.

Liberals say it’s a manipulated video, since Hickey later clarified his position when asked directly.

“I don’t believe we plan on bringing that forth. I don’t think we do that,” he said.

The Liberals have promised to tax properties that are sold within less than a year of ownership. It’s a policy meant to curb house flippers, not those selling their primary residences. That’s a big difference.

Still, this same issue dogged the Liberals last election after an internal memo was leaked — Trudeau denied it then, and is having to deny it again.

But this time, it’s a Liberal candidate who forced his own party on defense.

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