All Questions
9
questions
1
vote
1
answer
120
views
Canadian tax calculation for a sample income
Is the tax calculation below for a hypothetical Canadian resident living in Ontario correct?
Gross income - CAD 100K
Foreign capital gains - USD 20K
Dividends - USD 2K
Assume 18% (CAD 18000) is ...
- 1,084
3
votes
0
answers
166
views
Will I get trouble with CRA, if I withdraw yearly maximum Capital Gain without paying tax in ON for many years?
Assume I get 0 income and my Capital Gain doesn't fall. I live in ON. Call F the maximum federal ($12069 in 2019), and P the maximum provincial ($10582 in 2019) basic personal amounts. Retirement ...
user11761
12
votes
3
answers
7k
views
Capital gains on stocks sold to take initial investment off the table
Suppose I have invested $100K in a stock that was trading at $100 per share. The stock has gone up by 10 percent and is now at $110. I sold 909 units at $110, i.e. 909*$110 ≈ $100K, which is ...
0
votes
1
answer
155
views
Do I have to pay tax on Capital Gained on primary property?
I am a Canadian citizen. I have been worked for a company in Mississauga, Ontario since 2016. Around this time my dad was diagnosed with illness so in March 2016, he added my name to his property in ...
- 101
1
vote
0
answers
103
views
Tax Planning Capital Gains
Tax Planning - I'm retired and want to take my income as close as possible to $45,916.00 using Stock Capital Gains to maintain the lowest tax bracket of 15% and do the same for years to come as I have ...
- 11
4
votes
1
answer
5k
views
Calculating capital gains tax on sale of second home in Ontario
I have a few questions on capital gains tax on a 2nd property in Ontario, Canada.
1) Is capital gains calculated based on Sale price - Current Mortgage, or Sale price - purchase price? Im assuming ...
- 301
2
votes
0
answers
583
views
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
3
votes
1
answer
1k
views
Can I use losses from sale of stock to offset capital gains from sale of property
If I make a capital gain from the sale of a house but make capital losses from the sale of stocks in my brokerage account (not tax sheltered), then can I use the losses against the gains to reduce my ...
- 16k
1
vote
0
answers
84
views
Could CRA consider income from frequent trading of listed stock options as regular income, not capital gains?
I trade options on U.S. stocks frequently, several times a month. The income has been taxed as capital gains.
I am quite worried that the CRA could turn around and say that I am operating a business ...
