What is taxable capital gain?

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elhamsahraii
New Member

What is taxable capital gain?

I have sold my property in another country and transferred it to Canada. Should I have mentioned in my tax forms?
1 Reply
Kyle_12
Level 3

What is taxable capital gain?

A capital gain is when you sell investments like stocks and bonds or real estate holdings like land and buildings for more than you paid, and with the extra portion being added to your regular income, you have to declare the additional income as a capital gain. A Taxable capital gain is the portion of your capital gain that you have to report as income on your income tax and benefit return, you are taxed on a percentage which is referred to as the inclusion rate and that rate is currently 50%.

 

For more information on capital gains, see the links below:

TurboTax - Capital Gains Tax in Canada 

 

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