missed out most of the Capital Gains tax example for Canada:
"Currently 50.00% of realized capital gains are taxed in Canada at an individual's
tax rate. Some exceptions apply, such as selling one's primary residence which
may be exempt from taxation.[2] Capital gains made by investments in a Tax-
Free Savings Account (TFSA) are not taxed.
For example, if your capital gains (profit) is $100, you are only taxed on $50 at
your marginal tax rate. That is, if you were in the top tax bracket, you would be
taxed at approximately 43%. A formula for this example using the top tax bracket
would be as follows:
Capital gain x 50.00% x marginal tax rate = capital gain tax
= $100 x 50.00% x 43% = $50 x 43% = $21.50
In this example your capital gains tax on $100 is $21.50, leaving you with $78.50.
The formula is the same for capital losses and these can be carried forward
indefinitely to offset future years' capital gains; capital losses not used in the
current year can also be carried back to the previous three tax years to offset
capital gains tax paid in those years."
from: 'Capital gains tax' â by country:
http://en.wikipedia.org/wiki/Capital_gains_tax
