BlogSharesight Features & Tips

Canadian Capital Gains Tax Report makes tax time easy

by David Olsen, Content Manager, Sharesight

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.

Featured - Sharesight CGT Canada

How to calculate your CGT with Sharesight

1 – Sign-up for a Sharesight account

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:

…..and more.

add holdings - canada

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:

screenshot - Sharesight reports menu - Canada

5 – Select your date range

Enter a custom date range or select from a preset option, including the current or last financial year:

cgt report - canada - 2019 dates

6 – Review your CGT report

The Capital Gains Tax Report breaks down any capital gains and capital losses, and includes a report summary:

cgt report - canada 2019

7 – Carry forward your losses

You may also choose to carry forward any losses from the previous reporting period:

cgt report - canada 2019 - carry-forward-losses

Want more?

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.

Need help?

For more information visit our Canadian Capital Gains Tax Report help page.

Important Disclaimer: We do not provide tax advice. Make sure you seek appropriate tax advice before implementing the ideas in this post.


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