If you make under $40k in capital gains in a year, do you still pay 10% tax on the amount?

[cindybparky]

Canadian taxes

[Dhiv]

Hello,

Your taxable capital gain is 50% of your proceeds minus your adjusted cost base, however the amount of tax you pay depends on your total income, personal situation and your province of residence.  You can find more information here:

https://turbotax.intuit.ca/tips/how-to-reduce-capital-gains-tax-in-canada-6546#:~:text=cottages-,How....

Hope this helps!