So from previous posts I see here not having a date supplied I can just enter one within the year as it is a formality to do so. But why if it is a formality to enter a date am I paying more taxes this year after entering a date? I tried a 01/01/2024 and 31/12/2024 on all T5008 entries and in both cases I am paying more taxes? If the rate changes are not occurring this year then I should not be seeing a difference post entry of a date on all T5008s?
The date doesn't matter, but you need to enter the date to make sure the capital gains on your T5008 goes to Schedule 3 properly. If you don't put a date then the T5008s are not properly included in your tax return calculations.
Okay but the big question WAS why am I paying more taxes now on this? If the increases were not taking effect this year then why when I put a date in regardless of what date that was, why did I owe more? thanks
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