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Canada Capital Gains Tax Calculator 2024

Estimate taxable capital gains and resulting federal and provincial tax impact.

Introduction

🎯 What

Canada Capital Gains Tax Calculator 2024.

👥 Who

Individuals, investors, landlords, small businesses.

💡 Why

To estimate taxable capital gains and resulting federal and provincial tax impact.

Capital Gains Overview

Capital gains arise when you sell a capital asset for more than its adjusted cost base (ACB).
Common assets: Real estate (non-principal residence), Stocks & ETFs, Bonds, Mutual funds, Cryptocurrency, Business assets.
Only a portion of capital gains is taxable (inclusion rate).
Applies to both federal and provincial tax.

💼 Asset Details

Taxpayer Type

Province

Asset Type

Sale Price ($)

Purchase Price ($)

Selling Expenses (Fees)

Capital Improvements

Purchase Year

Sale Year

Principal Residence Exemption?

📊 Tax Information

Other Taxable Income ($)

Capital Losses (Carryforward)

RRSP Deduction

Provincial Credits ($)

Optional. Basic personal amount is auto-calculated.

💵 Tax Summary

Calculating...

Capital Gains Inclusion Rules (2024)

Individuals: Capital gains inclusion rate: 50%
Corporations & Trusts: Capital gains inclusion rate: 66.67% (2/3)

Tax Slabs Explanation

Capital gains are not taxed separately.
Taxable portion added to total income.
Federal and provincial rates applied progressively.
Inclusion rate determines taxable amount.

Allowances & Deductions

✔ Capital losses (current & carryforward)
✔ Principal residence exemption
✔ RRSP deductions
✔ Basic personal amount
✔ Provincial credits (Adjustable)
✔ Other eligible deductions

Examples

Example 1:

Asset: Stocks
Buy: 20,000
Sell: 40,000
Gain: 20,000
Taxable (50%): 10,000
Federal + provincial tax applied on 10,000

Example 2:

Rental property (not principal residence)
Gain: 100,000
Taxable: 50,000
Added to income and taxed progressively
Capital losses used: 5,000
Net taxable gain: 45,000

Frequently Asked Questions

Q: Are capital gains taxed at a flat rate?

A: No, they are added to total income after inclusion rate.

Q: Is principal residence taxable?

A: No, if exemption applies.

Q: Can losses reduce other income tax?

A: No, only capital gains are offset.

Q: Are RRSP contributions deductible?

A: Yes, they reduce taxable capital gain impact.

Q: Do provincial taxes apply to capital gains?

A: Yes, in addition to federal tax.

DISCLAIMER

This calculator is for informational and Google AdSense content use only.
Rates and rules are for 2024 and based on standard CRA assumptions.
Figures are estimates and not legal, tax, or financial advice.
Consult CRA or a licensed tax professional for official calculations.