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Home Equity Tax?

Generation Squeeze advocates for a surtax on homes valued over $1,000,000 claiming it will help younger Canadians afford homes by reducing housing prices. They claim this would spare the average Canadians from additional taxes. However, the average price of a home is almost a Million dollars, so this affects most of us. This tax will target older Canadians who have accumulated home equity through long term home ownership and capital appreciation.

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