i know very little of taxes so am differing to the hive mind with a question.


i know that capital gains are 50% .. so for example if i make 20G i get taxed on 10G ......
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if on my NOA it says i have 10G losses I can use to offset future gains , is that 10G of the 20G or 10G of the 10G ?

does my question make sense ??

thanks

 

If you made a capital gain of $20G then you would be taxed at half your marginal rate...so very roughly 25% tax, or $5000;

If you had a capital loss carry forward of $10,000 you would offset it against your $20k gain, so you would be taxed on $10,000, and pay $2500.

 

I really like taxtips.ca. There is a lot of good information on this website. You can roughly calculate your taxes for dividends and capital gains as well. No guarantee on it being correct but I've used it for years to budget RRSP contributions and tax payable.

https://www.taxtips.ca/filing/capitallosses.htm

https://www.taxtips.ca/calculators/c...calculator.htm

 

ok i don't like that answer .. can you give me a better one ?

lol

Thanks Ronan.

 

that's EXACTLY what i'm trying to do thanks ...

figure what my payable might be.