Canadian Capital Gains Tax Report makes tax time easy
It’s Canadian tax time! The best way to calculate your investment portfolio CGT obligations is to use Sharesight’s Capital Gains Tax Report. Here’s why:
- It takes care of the math (so you don’t have to).
- You’ll save money by sharing the report with your accountant.
- You can run the report at any time, over any time period. So not only will you have the information you need at tax time, but throughout the year. This means fewer surprises when the next tax season rolls around.
The Sharesight Canadian CGT Report (for those of you in Australia, we also offer an Australian CGT Report) calculates capital gains (and losses) made on investments according to Canada Revenue Agency (CRA) rules using the ‘adjusted cost base (ACB)’ sale allocation method, and is available in our Investor and Expert plans.
How to calculate your CGT with Sharesight
Join the tens of thousands of DIY investors already taking control of their portfolio with Sharesight. You can track up to 10 holdings for FREE!
2 – Import your holdings
We’ve made it easier than ever to import your holdings from Canada’s leading brokers, including:
- BMO InvestorLine
- CIBC Investor’s Edge
- HSBC InvestDirect
- National Bank Direct Brokerage (NBDB)
- Qtrade Investor
- RBC Direct Investing
- TD Direct Investing
- Virtual Brokers
Alternatively you may add your holdings manually or via a spreadsheet (.csv).
3 – Confirm your tax settings
Because Sharesight lets you track multiple portfolios (tax entities) that may involve different tax settings (for instance, RRSP/RFIP portfolios), you’ll want to confirm/update your portfolio’s discount rate before running the CGT Report. To do that, go to Settings > Tax Settings.
4 – Run the Canadian Capital Gains Tax Report
From the Reports menu, select the Canadian Capital Gains Tax Report:
5 – Select your date range
Enter a custom date range or select from a preset option, including the current or last financial year:
6 – Review your CGT report
The Capital Gains Tax Report breaks down any capital gains and capital losses, and includes a report summary:
7 – Carry forward your losses
You may also choose to carry forward any losses from the previous reporting period:
- Download your CGT report – As with all of Sharesight’s reports, your entire Capital Gains Tax Report can be downloaded to Excel, PDF or Google Sheets.
- Share access with your accountant – With your capital gains and losses automatically sorted, you should save on accounting fees this tax season. Why not take it a step further by securely sharing your portfolio with your accountant? They’ll have everything they need at their fingertips – not just at tax-time but throughout the year.
- Check the 3 ways Sharesight helps Canadian investors at tax time.
Sign up for Sharesight today
The Canadian Capital Gains Tax report is just one of the reasons why Sharesight makes tax time easy. The best way to understand what Sharesight is all about is to sign up and try Sharesight for yourself FOR FREE – We’re confident that you’ll agree that it’s the best share portfolio tracker available today.
For more information visit our Canadian Capital Gains Tax Report help page.