The allowable capital loss is 50% of the capital loss from a disposition of capital property. Capital losses may only be applied against taxable capital gains except in the year of the tax payers death. In the year of death it may be used to reduce other income.
About The Tax Guy...
Dean Paley CGA CFP is a Burlington accountant and financial planner who services individuals and business owners locally, nationally and internationally. Dean has appeared in the National Post, Toronto Star and Metro News.
To find out more, visit Dean's website Dean Paley CGA CFP or connect via Twitter @DeanPaleyCGACFP.
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