riski wrote: It depends on your personal situation.
If you are planning on holding for more than a year, it probably doesn't make sense to sell. If you are a short term trader sitting on gains, then of course they are going to sell. Fund managers are all short term even though they pretend to be long term. They buy and sell frequently, so they are all going to sell and then buy back for sure.
I'll use my situation as an example of why not to sell.
I have 1.1 million shares at an average cost of $1.34. Today's share price is about 5.2x my ACB.
So I have $7.7 million in HWX with a $6.2 million unlrealized CG.
If I sell that before June 25 and buy back, I must put away $1.6 million in cash for 2024 taxes. That leaves me with $6.1 million left which only buys me 875,000 shares. So I have lost price appreciation on 225,000 shares. When this hits $15 within the next 18 months, that's $1.8 million lost simply because I was worried about a small change in the CG tax.
This is not something someone does when they believe a stock is going North. Selling is tax tail waggin the investment dog decision and is costly.
Now sprinkle in this fact: The federal PC party - who are overwhelming leaders in the polls - plan to repeal this CG tax change when they get into office in the Fall of 2025. So it will likely be a nothingburger within 15 months and those who were scared into selling and adding to Trudeau's election war chest will feel kind of foolish for being so trigger happy.
Patience my friends!
BigJake wrote: traderfrom wrote: Is,nt capital gains tax will take effect next year ??
Yes but if you sell before the 25th you won't be subject to the new rules