Capital Gains Tax
You may experience a capital gain or loss when you dispose of certain property. This disposal may be through a sale or transfer. The type of property for the purpose of capital gain or losses can include, but is not limited to:
- Real estate, including land
- Ownership or shares of a privately held company
- Certain trusts.
You will need to complete line 12700 and Schedule 3 of your income tax return.
Please refer to publication T4037 to determine if you have a reportable capital gain