3 ways Sharesight helps Canadians at tax time

by Angela Thompson, Sharesight

With the April 30 tax deadline fast approaching in Canada, now’s the perfect time to review your portfolio tax obligations and ease your burdens a couple months from now. To help you along, we’ve outlined some important tax dates, as well as some helpful Sharesight features that can save you both time and money this tax season.

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Important tax deadlines

MARCH 1 – RRSP contribution deadline
The final date for your RRSP contributions to be eligible for the 2017 tax year.

APRIL 15 – Tax slip correction deadline
The last day to request a Tax Slip correction.

APRIL 30 – Tax deadline
The deadline to file your 2017 taxes (if you’re self-employed the deadline is June 15).

Tax features within Sharesight

With all your dividends automatically captured and in one place, Sharesight makes tax-time a breeze. Here are a few more features that can save you both time and money this tax season:

#1 – Canadian tax settings

Investors with a Sharesight portfolio tax residency set to “Canada” have a choice of the following tax settings which conform to Canada Revenue Agency (CRA) tax reporting rules: Non-registered, Registered Retirement Savings Plan (RRSP), and Registered Retirement Income Fund (RRIF). For more information, check out RRSP and RRIF Canadian tax settings in Sharesight portfolios.

#2 – Canadian CGT Report, and more

While Sharesight’s performance reports provide actionable insights in real-time, our tax reports are especially valuable this time of year. You can save potentially thousands of dollars in accounting fees (including hundreds spent on CGT reports alone) by running your own tax reports, including:

Canadian Capital Gains Tax Report

The Canadian Capital Gains Tax Report available on our Investor and Expert plans, calculates capital gains made on shares using the ‘Adjusted Cost Base’ sale allocation method as per CRA rules. It breaks down short and long term capital gains and capital losses, and allows you to customise your discount rate and sale allocation method. It even lets you “carry forward” losses from the previous reporting period:


For $25 per month I was given back about 15 hours of my life usually devoted to manually calculating CGT.

Taxable Income Report

The Taxable Income Report takes it a step further by breaking down all dividends over any time period, organised by local/overseas income, as well as non-trust/trust income (such as ETFs).

Historical Cost Report

The Historical Cost Report shows opening and closing balances at cost price. The report also includes a ‘market value’ column to allow a quick comparison between cost price and market value at the end of the chosen period.

#3 – Portfolio sharing

Another essential tax-time feature is the ability to share your portfolio. Rather than printing-out and forwarding your Sharesight tax reports, you can securely share portfolio access directly with your accountant and/or financial advisor. With all your portfolio data in one place, they’ll have everything they need to prepare your tax documents. Available on all Sharesight plans, portfolio sharing ensures everyone’s on the same page and focusing on what really matters – not just at tax-time but throughout the year.

Simply the best portfolio tracker for Canadians

Join thousands of Canadian investors already using Sharesight to manage their investment portfolios. To get started for FREE, simply sign-up and import your stocks and mutual funds. Then watch as corporate actions such as dividends and stock splits are automatically incorporated. And there’s even a handy mobile app that lets you track your portfolio on the go!


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