Capital Gains Tax
Definition
- A tax on the profits from the sale of real estate or investments.
Relevant Locations
Canada
Synonyms
liquidation, cashing out, 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.
