TAX-LOSS SELL - CAVEAT EMPTOR The last day to tax-loss sell Canadian-listed stocks is Dec. 29. Trades executed on Dec. 30 and 31 will settle on Jan. 4 and 5, 2021, respectively — making them ineligible for tax-loss harvesting in 2020. (On another note, Dec. 31 is the last day to make a donation to registered charity that can be claimed in the 2020 tax year.)
Clients who tax-loss sell may be tempted to repurchase the same securities at a later date. To avoid running afoul of the superficial loss rules in the Income Tax Act, clients should wait at least 30 days after the sale to repurchase the securit
If one decides to sell on the 29th for tax-loss purposes one might very well miss out on more than probable surge in stock price approaching NASDAQ uplist and torch sales.