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Level 1
September 11, 2024
Question

Taxable capital gains or total capital losses calculation

  • September 11, 2024
  • 1 reply
  • 3 views

Is there any fix planned in the T2 module for the change in percentage to the taxable capital gains from 50% to 67%? A date of disposition field in the table on schedule 6, recognizing the change in percentage after June 25, 2024 would help to navigate this change and avoid missing the necessity to override the calculation.

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1 reply

Level 11
September 13, 2024

There is no fix needed. The 2024 federal budget proposes to change the capital gains inclusion rate from 1/2 to 2/3. ProFile will be updated in a future release after legislation is passed and CRA has released the revised forms. This has not happened yet.