I think you are correct "In Canada, the so-called inclusion rate is 50 per cent, meaning only half the value of a capital gain is included in the income tax calculation.

For instance, if you lived in Ontario and were in the highest tax bracket, you would pay a tax of 42.16 per cent on half of your capital gain, or 21.08 per cent on the whole thing, if you like."

direct link http://www.cbc.ca/news/business/taxes/story/2012/03/01/f-tax-season-capital-gains.html

one more question. if I hold it for a year or less do I still pay the same?