Disney earnings: Results show profit, stock falls 2% + MORE Aug 8th

The capital gains inclusion rate changed as of June 25, 2024. For individuals, the inclusion rate is either 50% or 66.67%, depending on the size of the capital gain.

With the current federal and provincial/territorial tax rates in Canada, no one pays more than 27% capital gains tax on gains of under $250,000.

You can reduce the amount of capital gains tax you owe by holding your investments in registered accounts, offsetting capital gains with capital losses and claiming the principal residence exemption.

Selling high-performing stocks or a cottage property can reap significant profits, and those moments are worth celebrating. But while you’re enjoying the spoils of your investments, keep in mind that you’ll eventually have to pay tax on them. In Canada, most gains on capital assets are taxed. Let’s look at how capital gains tax works in Canada and strategies to avoid paying more taxes than you need to come tax time. 

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What are capital gains?

When you sell an asset or investment for more than you bought it, you have a capital gain…

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“Our merchants do seem to be outperforming and doing better than others,” Harley Finkelstein told analysts on a Wednesday earnings call.

“I think a big part of the reason that we are not seeing the same thing that others might is because we simply have merchants across a ton of verticals and across a ton of geographies.”

The Ottawa-based e-commerce software company caters to both small businesses and multi-national giants. It’s recently attracted the likes of burgeoning brands including jeweler Mejuri and apparel company Evereve, along with household names such as Toys “R” Us, Barnes & Noble and Casper.

The bevy of brands have helped Shopify cope with lower consumer spending caused by high inflation and elevated borrowing rates in many of its key markets.

Shopify’s Q2 earnings

Several brands have said they expect the softening to continue as the year progresses, but Shopify’s chief financial officer Jeff Hoffmeister said on the same call as Finkelstein that their company hasn’t seen “any significant deterioration or improvement” during its second quarter…