Ishtiaq  Ahmed

Ishtiaq Ahmed

Broker of Record

ZOWN REALTY INC.

Mobile:
416-999-6975
Office:
866-438-9696
Email Me

New Capital Gain Tax After June 25, 2024 In Canada

 

Capital Gain Tax Calculation

Current Calculation
Original Purchase Price: $500,000
Current Sold Price: $900,000
Profit: $400,000
Current Capital Gain Tax at 50%: $100,000
After June 25th 2024
Original Purchase Price: $500,000
Current Sold Price: $900,000
Profit: $400,000
New Capital Gain Tax (First $250,000): $62,500
Plus profit over $250,000: $50,002.50
Total Capital Gain Investment tax payable: $112,502.50
New Capital Gain Tax Rate if Property is under corporation
Original Purchase Price: $500,000
Current Sold Price: $900,000
Profit: $400,000
Total Capital Gain Investment Tax: $133,340

Have Questions?

I agree to receive marketing and customer service calls and text messages from ZOWN REALTY INC.. Consent is not a condition of purchase. Msg/data rates may apply. Msg frequency varies. Reply STOP to unsubscribe. Privacy Policy & Terms of Service.