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Investors and rental owners
According to Canada Revenue Agency (CRA), If the proceeds of disposition are less than $1,000, the proceeds of disposition are considered to be $1,000.
However, if both the Adjusted Cost Base (ACB) and the proceeds of disposition are $1,000 or less, you do not have a capital gain or a capital loss.
Do not report the sale on Schedule 3 when you file your income tax and benefit return.
For more information visit: Personal Use Property, proceeds of disposition.
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‎February 11, 2023
1:43 PM