Capital Gains Tax

Definition

  • A tax on the profits from the sale of real estate or investments.

Relevant Locations
Canada

Synonyms
cashing out, liquidation, taxable profits

Acronyms
CGT

Related Terms and Acronyms

  • Capital Assets Definition,
    • Items that you own for investment or personal purposes, such as stocks, bonds or stamp collections. When you sell a capital asset, depending on the price you earn a capital gain or a capital loss. Gains are taxed at a special rate, and losses can be used in many cases to reduce the amount that is taxed. See also "Capital Gain" or "Capital Loss."
  • Income Property Definition,
    • Real estate developed or improved to produce income. Also referred to as "non-owner occupied property" or "rental property."
  • Investment Income Definition,
    • Income that is earned from investments such as interest, dividends, and capital gains.
  • Long Term Capital Gain (LTCG) Acronym,
    • Your loss from the sale of a capital asset that you held for more than 12 months.
  • Long-term Capital Loss Definition,
    • Your profit from the sale of a capital asset that you held for more than 12 months.
  • Ordinary Dividends Definition,
    • The distribution of a company's profits that are subject to full taxation.
  • Ordinary Income Definition,
    • Income that does not qualify as a capital gain including wages, interest, dividends, and net income from a business.
  • Portfolio Definition,
    • A collection of investments.
  • Short-Term Capital Gain (STCG) Acronym,
    • Your gain from the sale of a capital asset that you held for one year or less.
  • Short-term Capital Loss Definition,
    • Your loss from the sale of a capital asset that you held for one year or less.
  • Tax (TX) Acronym,
    • A levy paid by an individual or entity that is collected by a government.
    Bank account transaction code.
  • Tax-sheltered Definition,
    • A savings or investment plan that offers significant tax savings.
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