All Questions
Tagged with canada capital-gain
29
questions
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36
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First Home Savings Account (FHSA) in Canada
FHSA was introduced in Canada in 2023 for first time home buyers. From what I read I can open a FHSA, because I have not lived in the house since I bought it (always rented). I can contribute up to $8,...
- 131
0
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1
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160
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Are everyday foreign currency exchange fees deductible with the CRA as a capital loss? [duplicate]
Let's say today's official market exchange rate from USD to CAD is 1.30.
However, my bank or Western Union is only willing to offer me a rate of 1.20. Therefore, I end up converting $100K USD to just $...
- 1,570
1
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1
answer
277
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Do you use the trade date or settlement date for CRA reporting capital gains, especially for exchange rates?
Suppose you engage in the following investment transactions while a Canadian resident:
(Buy MSFT) Trade Date: Jan 1st. Settle Date: Jan 3rd.
(Sell MSFT) Trade Date: Jan 10th. Settle Date: Jan 12th.
...
- 1,570
1
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1
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65
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What time period determines the long-term capital gains tax for foreign individuals in Canada?
Let's say I am either a resident of the US or Mexico. If I have a stock I have held for more than 12 months while abroad, and then sell it within the first week of my arrival in Canada, would it be ...
- 1,570
1
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1
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127
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How do I calculate capital gain when I bought at different prices?
I bought 2 BTC in 2019 for $4,000 each
I bought another 2 BTC in 2020 for $10,000 each
In total, I bought 4 BTC for $28,000
I sold 1 BTC in 2021 for $40,000
How do I calculate the capital gain for the ...
8
votes
3
answers
449
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Is it tax-inefficient to receive and pay rent?
Suppose I own a home and live in it. Then I realize I want to move to another part of town that is closer to work. But this is temporary because I don't know what my job will be in 5 years.
So I rent ...
- 264
3
votes
1
answer
83
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Ontario Capital Gains,are profits also part of taxable income?
Say I Sell my investment property house for 500k and bought it for 250k. Leaving me 250k profit.
I'd be taxed on 50% of that correct: 250/2 = 125k taxable. and 125k Profit.
Now my 125k is taxed ...
- 353
3
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2
answers
1k
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Any capital gains taxes owed for non-residents selling stock in Canada?
I own stock of a company outside of Canada. Recently, the company was bought out by a Canadian company with newly issued shares listed in Toronto. As a shareholder of the company, I received new ...
- 31
2
votes
1
answer
538
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DRIP Vs. Cash Dividend in a taxable account - Which one is beneficial from the tax perspective?
I believe dividends are considered as an income and if you reinvest using DRIP it won't be income but capital gain later when you sell the stock?
What are some advantages and disadvantages of doing ...
- 185
0
votes
1
answer
205
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Canadian Citizen and Non Resident for tax purposes
I am a Canadian citizen was a non resident for tax purposes. If I sold stock shares in January 2016 and became officially a Canadian resident again in April 2016 (3 months after selling the stock), ...
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1
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1
answer
465
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US citizen paying capital gain taxes in Canada on sale of property in US
My son, who is a US citizen living and working Canada. Just sold a piece of property which he inherited in the US. The capital gains was $160,000 and US Federal and State capital gains taxes came to ...
- 11
1
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2
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142
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Should I sell/transfer an investment and pay capital gains tax, if it means investing it most wisely?
I married someone with about 100k in an investment portfolio that I do not think aligns with our financial objectives. I want to transfer this to a new joint portfolio (new institution too), but doing ...
- 113
1
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1
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1k
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How to report multiple currency transactions on T5008 (capital gains)
I have a brokerage account with Questrade and recently had a T5008 issued to me.
On this slip is a listing of my equity purchases and sales along with the capital gain or loss on each transaction.
...
- 1,293
2
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0
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583
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Capital gains tax from selling Canadian property for Canadian non-resident
Case: Capital Gain Tax Implications for House in Toronto, ON
Purchase value of House in 2000: $230,000
Potential Sale value in 2015: $650,000
Joint-owners: David & Rebecca, married and both are ...
- 131
1
vote
1
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78
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U.S. stock sales- tax on sale for NR Canadian
I am a Non-resident Canadian living in Thailand on a Retirement Visa and my non-residency status dates back to 2013. I have no income except for CPP,. OAS, and a company pension all of which total $...
