PLXTO
Toronto Escorts

Tax on capital gain for stocks

aznguy99

Member
Nov 21, 2008
409
0
16
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??
 

danmand

Well-known member
Nov 28, 2003
46,353
4,776
113
All your stock transactions are reported to CRA.

Do they cross check all of them? I dunno, but you have to report the total
amount of dispositions on your tax return.
 

canaille

New member
Dec 30, 2009
159
0
0
I was reassessed last year on my capital gains based on the brokers' statement sent directly to the CRA as they used different exchange rates on US trades than what I used in my calculations. So the CRA definitely are tracking your trades.
 
Ashley Madison
Toronto Escorts