All Questions
Tagged with canada-revenue-agency capital-gains-tax
8
questions
1
vote
0
answers
31
views
In which direction should a Return of Capital (ROC) affect the Adjusted Cost Base? (Canada, CRA)
I'm trying to accurately track my Adjusted Cost Base for a few different mutual funds, and one of these funds has reported a negative amount for box 42 of the T3. -- this cell reports the Return of ...
- 511
2
votes
0
answers
21
views
Calculating Foreign Exchange Capital Loss on Margin Loan Repayment
Let's assume I convert 10,000 CAD to 5,000 USD and hold it for one year. During that year, I also make some trades using money borrowed from the brokerage firm (i.e. trading on margin). Afterward, I ...
- 1,570
0
votes
2
answers
85
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How to calculate capital gains cost basis with delayed forex conversions when trading in USD in Canada?
Scenario 1: Immediate FOREX conversion
➤ On June 1st, I purchased stock ABC with a cost basis of $100,000 USD. The exchange rate on the day of the trade was $130,000 CAD.
➤ On June 10th, I sold stock ...
- 1,570
5
votes
1
answer
2k
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How is Canadian capital gains tax calculated when I trade exclusively in USD?
99% of my entire net worth is denominated in USD, and I only trade in USD stocks & bonds.
Does Canadian capital gains tax only trigger when I attempt to convert those gains/losses into CAD? In ...
- 1,570
1
vote
1
answer
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
3
votes
1
answer
384
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Is a depreciation claim on a rental property basically always worth it in Canada, given stable income?
As I understand it, in Canada (unlike the US) there is some freedom in how much depreciation expense you can claim for a rental property every year, from 0 all the way up to 4% of the yet-...
- 153
3
votes
0
answers
166
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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
2
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0
answers
1k
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Is forex spread betting legal and/or taxed in Canada?
I have some questions regarding forex spread betting in Canada.
1) Is spread betting legal in Canada?
I have found a few unofficial sources that say spread betting is legal in Canada, however I was ...
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