COMMERCE 4SD3 Lecture Notes - Lecture 8: Only Time, Stock Split, Retained Earnings
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If you generate a capital gain in 1988/1989 2/3 of the capital gain got included in income. In 2000, if you generated capital gain january 1 feb. 27 = a 75% capital gain inclusion rate: not in existent in canada prior to 1972, today, 50% of capital gain gets included in taxable capital gain. Lpp: listed personal property, work of art, rare book, coin, jewelry, stamp. If you have lpp, and you sell it, if it goes up in value it is a capital gain. If it goes down in value, you can have a lpp loss: can only be used against lpp gains, only interested in transactions > ,000 for pup & lpp to record capital gains/losses, small tra(cid:374)sa(cid:272)tio(cid:374)s do(cid:374)"t (cid:373)atter. This year all you have is a capital loss this year: acl = allowable capital loss, cannot claim the acl unless this year you have an allowable capital gain, acl has to be claimed against acg.
