If you sell or give away capital property, you have to report the transaction to the Canada Revenue Agency. To calculate your gains or losses, you need to understand the definition of the phrase “proceeds of disposition.” You also need to know when the CRA requires you to report your proceeds of disposition and when it prefers an alternative figure.
Definition of “Proceeds of Disposition”
“Disposition” refers to when you dispose of or get rid of a property. In most cases, the proceeds of disposition is the amount you received for the property.
However, if you traded in the property to buy a new one, the proceeds of disposition is the amount you received for the trade-in. For example, if you trade in your old car and receive a $4,000 credit toward the new one, the proceeds of disposition is $4,000.
If you sell or give away capital property, you have to report the transaction to the Canada Revenue Agency. To calculate your gains or losses, you need to understand the definition of the phrase “proceeds of disposition.” You also need to know when the CRA requires you to report your proceeds of disposition and when it prefers an alternative figure.
Definition of “Proceeds of Disposition”
“Disposition” refers to when you dispose of or get rid of a property. In most cases, the proceeds of disposition is the amount you received for the property.
However, if you traded in the property to buy a new one, the proceeds of disposition is the amount you received for the trade-in. For example, if you trade in your old car and receive a $4,000 credit toward the new one, the proceeds of disposition is $4,000.
這句話 the proceeds of disposition is the amount you received for the property.
If you sell or give away capital property, you have to report the transaction to the Canada Revenue Agency. To calculate your gains or losses, you need to understand the definition of the phrase “proceeds of disposition.” You also need to know when the CRA requires you to report your proceeds of disposition and when it prefers an alternative figure.
Definition of “Proceeds of Disposition”
“Disposition” refers to when you dispose of or get rid of a property. In most cases, the proceeds of disposition is the amount you received for the property.
However, if you traded in the property to buy a new one, the proceeds of disposition is the amount you received for the trade-in. For example, if you trade in your old car and receive a $4,000 credit toward the new one, the proceeds of disposition is $4,000.
這句話 the proceeds of disposition is the amount you received for the property.
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