What's new for capital gains

Tax on split income (certain capital gains)

After March 21, 2011, capital gains arising from the disposition of certain shares by a child under 18 to a non-arms length person may be deemed to be a dividend and therefore result in the tax on split income. If this applies to you, see Form T1206, Tax on Split Income, for more information.

Donations of publicly listed flow-through shares

If you donate property to a qualified donee after March 21, 2011, that is at the time of the donation included in a flow-through share class of property, and at that time you have an exemption threshold in respect of the flow-through share class of property, you may be deemed to have an additional capital gain from the disposition of another capital property subject to an inclusion rate of 50%. For more information, see pamphlet P113, Gifts and Income Tax.