Tax season is here and I have a question:
It appears to me that reporting capital gains on stocks purchased and sold to CRA is done on an honour basis. Is that true??
I know that receipts issued such as T3 by your financial institution, CRA receives a copy of it.
But does CRA actually receive anything for capital gains you have??
It appears to me that reporting capital gains on stocks purchased and sold to CRA is done on an honour basis. Is that true??
I know that receipts issued such as T3 by your financial institution, CRA receives a copy of it.
But does CRA actually receive anything for capital gains you have??