Baytex Energy Corp T.BTE

How are Canadians taxed when selling in a cash account?

[Talwandi]

Thanks

[Maxmoe]

Everyone else will tell you "it depends" , more or less, blah blah blah ill try for a simple, most likely answer. only half your capital gain is taxable. So if you have a gain of $1 million you only have to pay tax on half. Allowing me to round and use a sort of average for all the provinces, that means you'll pay about 50% tax on your half million taxable, so 250k in taxes on a

[gareez47]

Don't forget your TFSA allowance it can be used for transfers in kind. Most people have at least 50K of room if you have been ignoring it.

[Canukiwi]

In kind transfers to TFSA take place at market value and are subject to capital gains/losses. Do it early!

[Maxmoe]

Not a problem for my friend, he just banked 750k. Now he has a tax guy, a lawyer, a fat old broker,  and a super cute little accountant.

[Maxmoe]

He's got everything stashed offshore in Caymans so he can deduct his annual trip to go visit his trust money just like Truedope and balls-deep. The next 2000% move like baytex had over the last 2 years will take him to $ 15 million. Gotta get offshore with the rest of the great HSBC et al wiki, giggle,wordle leaks crowd. quote=Maxmoe]Not a problem for my friend, he just banked 750k. Now he has