In order to accurately calculate adjusted cost base and capital gains a complete history of all transactions is required, including not only purchases and sales, but also reinvested distributions, return of capital, phantom distributions, and splits. A common and unfortunately occurrence is when a Canadian investor has owned a security for a long time, has […]
Often preferred shares are issued with conditions allowing the issuer to redeem the shares after a certain date for a predetermined price (the issuer has the option to redeem the shares, but not the obligation). Preferred shares can also have a predetermined maturity date, whereby the issuer has the obligation to redeem the shares on […]
Calculating adjusted cost base and capital gains can be a very onerous task. Canadian investor may question the need to do this themselves when they feel it should be their brokerage’s responsibility. Unfortunately, brokerages are not required to provide their customers with information on adjusted cost base and capital gains. In fact, in the general […]
For tax purposes, it’s important to understand the distinction between the trade date and the settlement date: The trade date is the date on which you purchase or sell shares/units. The settlement date is the date on which you begin to legally begin own the shares (in the case of purchase) or cease to own […]
SimpleTax is a web-based tax software application that allows Canadian taxpayers to complete and submit tax returns online. It’s one of the few tax software packages that’s offered for free (it has a “pay what you want” pricing policy). It’s fairly easy to use and doesn’t take long to sign up. Since it’s web-based, you […]
