6 Ways to Avoid Capital Gains Tax In Canada | Reduce Capital Gains Tax Canada

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6 Ways to Avoid Capital Gains Tax In Canada | Reduce Capital Gains Tax Canada

Recently I got a lot of inquires asking…
“Thomas, what should I do if I know a huge tax bill or mainly capital gains tax coming up?”
Maybe you sold your cottage or your rental properties
or your let go of your stocks or cypto
You are happily enjoying your profit until you realize –
with huge capital gain also comes hefty capital gains tax bill.
And by April, The CRA is ready to share your profit too.
so how do you calculate the capital gain tax in Canada?
And what can we do to keep as much money as possible?
In this video,
I want to share 6 strategies that can help you to reduce capital gain tax in canada
so you can save tens of thousands of dollars.
And before we start.
Let’s first have a look at how high capital gains tax is.
In Canada, If you make any profit on an investment,
50% of the growth will be considered capital gain -
So say, if you bought your 2nd property at $500,000
10 years ago and now you sell it at 1.5 million dollars.
1 million will become your profit, and 50% which is 500k of that will be capital gain and consider as your income that year.
and that pretty much pushes you to the highest
tax bracket and depends which province you are in~
you will need to pay around $250,000 to our Canadian government.
Paying 25% tax isn’t fun,
so let’s have a look at the 6 strategies you can use to offset your capital gain tax in canada
I will first introduce the easiest way
then I will move to a more complex strategy
And as a disclaimer,
this video is for information purpose.
Whether any of the strategies fit you or not,
PLEASE talk to a tax specialist or a financial advisor.
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In the past 10 years, Thomas C Chan been focus on helping Canadians to develop for their financial success, with advice about investments and insurance, such as life insurance, critical illness insurance, and disability insurance.

Whether you want to know more about tax saving, retirement planning, or financial growth, Thomas can bring clarity on your retirement, wealth, and insurance. He understands the life stages and challenges that people are going through.

In Canada, you have many options for savings and investment vehicles, such as the RRSP and TFSA. To figure out how to take advantage of your options, Thomas can help you figure out what best suits YOUR financial needs. If you are interested in learning about how money works, and how to work with money, check out his videos!

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Видео 6 Ways to Avoid Capital Gains Tax In Canada | Reduce Capital Gains Tax Canada канала Thomas C Chan - Financial Services