Currently: cap gains tax is 50% of the gain. Ba
Post# of 85497
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Posted On: 01/31/2021 4:52:46 PM
Currently: cap gains tax is 50% of the gain.
Based on the marginal combined income tax rate of fed and provincial.
so for example: 0-45k (cad) income - 20.03% is taxed.
Say I make $1million. cap gain. 50% of that is taxed (500k)
If I fall into the lowest income bracket of 20.03% I would need to pay
500k x 20.03% = $100,150 in Cap gains tax.
So 10% of the total gain...lol
foot note: they changed this a number of years back which was 75%
Based on the marginal combined income tax rate of fed and provincial.
so for example: 0-45k (cad) income - 20.03% is taxed.
Say I make $1million. cap gain. 50% of that is taxed (500k)
If I fall into the lowest income bracket of 20.03% I would need to pay
500k x 20.03% = $100,150 in Cap gains tax.
So 10% of the total gain...lol
foot note: they changed this a number of years back which was 75%
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