Capital Gains Tax Report

Content also available for Australian and Canadian tax entities.
Note: This report is only available in Australian and Canadian tax residency portfolios on Expert and Sharesight Pro plans.

The Capital Gains Tax (CGT) Report in Sharesight calculates capital gains made on shares as per the Canada Revenue Agency rules using the ‘Adjusted Cost Base’ sale allocation method and is available on our investor and expert plans.

Each sale within a specified date range will be displayed as a separate row on the report. The sale value (total value minus brokerage costs) minus the adjusted cost base of the shares being sold gives the gain or loss on each row. The report is split between capital gains and capital losses and the two values are summed together in the summary section.

When calculating the adjusted cost base for each sale we take into account buys and sells, stock splits and consolidations, dividend re-investments, return of capital, brokerage costs, share cancellations, cost base reductions, exchange rate conversions and more.

Running the CGT Report

CanadianCGTReportLocation

Use the date range selector to specify the period for which you wish to run the report. Click the apply button to update the report for the selected date range.

Canadian CGT report date selector

Losses carried forward

Any carry-forward losses from a previous reporting period may be entered next to the date range selector before running the report. The carry-forward loss will be included in the summary section of the report.

Canadian CGT Losses Carried forward screenshot

If you have multiple losses across multiple years and with different inclusion rates, then you will first need to calculate the adjustment percentage for each period. To calculate the adjustment percentage divide the Inclusion rate for the year to which the loss is applied by the inclusion rate for the year in which the loss arose, if different. If they are the same, simply use the inclusion rate.

The loss for each period times the adjustment percentage will give you the loss to carry forward.

Also, note that the carry-forward amount is not saved and must be re-entered if you re-run the report.

Inclusion Rate

Canadian Inclusion Rate

We have set a default inclusion rate of 50% which has been in place in Canada since 2001. However, you can change this rate at any time by visiting the Tax Settings panel on your portfolio.

A list of the previous inclusion rates is available on the CRA Website.


Report tables

Capital Gains

This table lists capital gains that have been made during the date range that you have selected.

Canadian CGT Report - Capital Gains section

Capital Losses

This table lists any capital losses during the period.

Canadian CGT Report - losses section

CGT Summary

This summary section details the taxable capital gains total for the period.

Canadian CGT Report - summary section

For more detail about Canadian Revenue Agency capital gains tax rules, please refer to the CRA Website.

Keywords: cap gains, capital gains, capital gains tax, CGT, CGT Report

Last modified on April 12, 2018 UTC