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Adjusted Cost Base.ca The Free and Easy Way to Calculate ACB and Track Capital Gains |
An in-kind contribution to a registered account is where shares are transferred directly into the account, as opposed to cash. When making an in-kind contribution to a registered account (such as an RRSP or TFSA), it’s possible for a capital gain to be realized, even if the shares are transferred directly. Even though you haven’t […]
The superficial loss rule prohibits claiming a capital loss when you (or your spouse or other entity affiliated with you) repurchase identical property within the period beginning 30 days before the sale and ending 30 days afterwards, and the property is still owned at the end of this period. The onus is on the taxpayer […]
The superficial loss rule defines certain situations in which capital losses are disallowed. Section 54 of the Income Tax Act indicates that a superficial loss is a loss occurring from the sale of property when both of the following two conditions are met: During the period that begins 30 days before and ends 30 days […]
When calculating adjusted cost base, it’s important to use the correct ordering of the transactions. In some cases it may not matter – for example, in a sequence of multiple buy transactions, the order within that sequence will not affect the final result. But where buy transactions are interlaced with sell transactions, the order matters. […]
In order to use AdjustedCostBase.ca effectively, you’re encouraged to register for an account so that you can access the data you’ve entered any time. But you also have the option of using a “Guest Account.” With a guest account, you can access all the features of AdjustedCostBase.ca that a registered user can access. However, any […]