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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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50% - Moderately

Capital Gains Tax


Synonyms:cashing out, liquidation, taxable profits
Acronyms &
abbreviations:
CGT
Relevant locations:Canada
Filed Under: financial-banking, investments, taxation
Tags: taxes
 

Definition of capital gains tax (CGT)

capital gains tax (CGT)
1. A tax on the profits from the sale of real estate or investments.

Related Terms and Acronyms:

  • capital assets   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."
  • capital gains tax (CGT)   A tax on profits from the sale of real estate or investments.
  • income property   Real estate developed or improved to produce income. Also referred to as "non-owner occupied property" or "rental property."
  • investment income   Income that is earned from investments such as interest, dividends, and capital gains.
  • ordinary dividends   The distribution of a company's profits that are subject to full taxation.
  • ordinary income   Income that does not qualify as a capital gain including wages, interest, dividends, and net income from a business.
  • portfolio   A collection of investments.
  • short-term capital gain (STCG)   Your gain from the sale of a capital asset that you held for one year or less.
  • short-term capital loss   Your loss from the sale of a capital asset that you held for one year or less.
  • tax-sheltered   A savings or investment plan that offers significant tax savings.

More Related Terms and Acronyms

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