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Message: Re: Capital gains
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Nov 15, 2011 12:41AM
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Nov 15, 2011 01:03AM

Not another income tax question! The taxes owing on a capital gain are totally dependent on your total income and or which province you live in. Also keep in mind that the federal and most provincial tax rates are a progressive system. Different threshold amounts trigger different tax rates throughout the country...

The only thing that is constant in all of Canada is that you only claim half of the total of capital losses or capital gains on your tax return. I would suggest for anyone who has a large capital gain, to look at selling a stock that has tanked and book it towards your gains...

Kherson

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