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Adjusted Cost Base.ca The Free and Easy Way to Calculate ACB and Track Capital Gains |
SimpleTax is a web-based tax software application that allows Canadian taxpayers to complete and submit tax returns online. It’s one of the few tax software packages that’s offered for free (it has a “pay what you want” pricing policy). It’s fairly easy to use and doesn’t take long to sign up. Since it’s web-based, you […]
The Canada Revenue Agency provides individual taxpayers with online access to certain tax information slips. This can be helpful for reconciling your own records. The tax information slips are not complete as only a limited subset of tax slips are provided. To access your available tax slips online, first log in to the CRA web […]
An in-kind contribution to a registered account is where shares are transferred directly into the account, as opposed to cash. When making an in-kind contribution to a registered account (such as an RRSP or TFSA), it’s possible for a capital gain to be realized, even if the shares are transferred directly. Even though you haven’t […]
The superficial loss rule prohibits claiming a capital loss when you (or your spouse or other entity affiliated with you) repurchase identical property within the period beginning 30 days before the sale and ending 30 days afterwards, and the property is still owned at the end of this period. The onus is on the taxpayer […]
The superficial loss rule defines certain situations in which capital losses are disallowed. Section 54 of the Income Tax Act indicates that a superficial loss is a loss occurring from the sale of property when both of the following two conditions are met: During the period that begins 30 days before and ends 30 days […]