Tax for millionaires: QS backs off on farmland

Tax for Millionaires: QS Rolls Back on Farmland

UPGRADE DAY

MONTREAL – Contrary to what the party said the day before, Québec solidaire will give up including the value of agricultural land in its calculation to tax Quebecers whose net assets exceed $1 million.  

“I want to clarify the announcement we made yesterday: agricultural land will not be affected by the tax on large fortunes of Quebec solidaire”, declared Gabriel Nadeau-Dubois on Wednesday. 

However, the day before, the party had responded positively when asked whether agricultural land was included in the calculation to impose an additional $1,000 on Quebecers whose net worth is between $1 million and $9.9 million, as well as in the 35% levy on inheritances that exceed $1 million. 

“There was an error in the transfer of information,” pleaded Mr. Nadeau-Dubois.  < /p>

  • Listen to the meeting between Philippe-Vincent Foisy and Antoine Robitaille broadcast live every day at 12:15 p.m. via QUB radio : 

The value of machinery, buildings and other assets will however be included in the calculation of assets of a farmer. 

Québec solidaire was attacked by its adversaries on Wednesday. 

The Liberal leader declared that the formation “attacks the next generation of farmers . 

A little later, after a meeting with the Union of Agricultural Producers, Mr. Nadeau-Dubois seemed to hesitate when confronted with the fact that farmers' quotas on milk and chicken are worth a fortune.  

“For the moment, our commitment is clear,” he said, without committing to backing down again. 

How many “millionaires”? 

Beyond farmers, many people could qualify for the additional $1,000 tax on assets of $1 million to $9.9 million. QS includes in its calculation the value of real estate, but also RRSPs, TFSAs and pension funds. 

Debts, such as mortgages, would however be deducted from the calculation. &nbsp ;

  • Listen to the Montpetit-Déry meeting broadcast live every day at 1 p.m. 55 via QUB radio: 

“I think that , in life, if you have more than 1 million dollars, you are able to contribute a small 1000$ to help our hospitals, help our schools, and help our planet,” says Gabriel Nadeau-Dubois. 

QS assures that only 5% of the population is affected by its tax on assets exceeding $1 million.

Other setbacks to come 

Coming out of his meeting with the UPA, Dominique Anglade affirmed that Gabriel Nadeau-Dubois' economic team “is not credible” . 

“It's a first setback, but there will be others,” she said.  

Furthermore, the Liberal leader believes that it is better to tax the rich on their income than on their assets, as Québec solidaire wishes.  

“Families need air to breathe,” she said. let him get tangled up in his proposals,” said CAQ leader François Legault, on the sidelines of a school visit to Victoriaville.

“But as far as I know, he still wants to put taxes on certain vehicles,” he observed. So when interest rates rise and Quebecers are taken by the throat, well Gabriel Nadeau-Dubois announces new taxes on vehicles, on certain estates. There, he tells us: “I did not mean that it includes farmers”. Well… Who does that include exactly? ” 

The leader of the Parti Québécois recognizes that Quebecers who have net assets are rich,  

“Yes, but that does not mean that taxing everyone with $1 million in assets is a good measure, said Paul St-Pierre Plamondon. The consequences will be numerous and if we combine that with the desire to tax inheritances, it will cause more problems than it will bring solutions. Take for example the transfer of agricultural land where it will become more logical to sell to foreign investment firms than to inherit agricultural land. […] We in the Parti Québécois have no intention of taxing the dead. » 

– With the collaboration of Nicolas Lachance, Annabelle Blais and Marc-André Gagnon, Parliamentary Office