Calculating Capital Gains

[Miss.Lexi]

Hello gentlemen,

I've recently been playing the stock market, with positive outcomes, but since tax time is coming up, I would like to ask for some advice.

When I'm calculating my capital gains for tax purposes, do I include the trading fees?


Thanks!

 

[SkyRider]

Hello gentlemen,

I've recently been playing the stock market, with positive outcomes, but since tax time is coming up, I would like to ask for some advice.

When I'm calculating my capital gains for tax purposes, do I include the trading fees?


Thanks!

Yes, add the commission you pay when you purchased the stock to the cost base. Deduct the commission you pay when you sell the stock from the gross proceeds.

 

[Miss.Lexi]

Yes, add the commission you pay when you purchased the stock to the cost base. Deduct the commission you pay when you sell the stock from the gross proceeds.

Thank you!

 

[GPIDEAL]

This guide will also help with other questions (rules affecting mutual funds, multiple purchases of same stock, partial sales, etc.)

http://www.cra-arc.gc.ca/E/pub/tg/t4037/README.html

 

[DukeSSk]

I believe some discount/online brokerages include commissions in the cost base, giving you an average cost per stock. Best to confirm with yours.

 

[Miss.Lexi]

Lexi - empty your PM

Done

 

[saxon]

Also be aware that there are different rules for calculating capital gains when you are selling a REIT.