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New Member
posted Oct 29, 2019 5:54:00 PM

Do you need to calculate interest accrued for GIC's that are not mature yet for capital gains reasons?

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New Member
Oct 29, 2019 5:54:01 PM

The bank will send you a T5 for interest earned by the GIC.  GIC's do not generate capital gains, as the original investment amount remains the same.  It either generates interest or it does not. If it does not pay you interest, it is not a loss.

1 Replies
New Member
Oct 29, 2019 5:54:01 PM

The bank will send you a T5 for interest earned by the GIC.  GIC's do not generate capital gains, as the original investment amount remains the same.  It either generates interest or it does not. If it does not pay you interest, it is not a loss.