KOO - Quest13 has replied correctly to your post. Superficial Tax Loss does not apply to a capital gain. CRA is very happy to let you sell and collect their tax on that gain that year. The rule is designed to stop persons under water from selling a stock that they want to keep. They sell to crystalize a loss to use against gains elsewhere to avoid paying tax but then want to buy back right away to be in the stock. The 30 day wait causes risk as the price might change a lot so the person is less likely to do this. Without this, one could sell for the tax loss and buy back immediately at basically the price they sold at.