n Tax Breaks - The difference between capital and revenue - capital gains tax

Volume 2019 Number 407
  • ISSN :


Much of the decision as to whether a particular item falls under Capital Gains Tax or normal income tax depends on whether the proceeds or expense is of a ‘capital nature’. So it would naturally be helpful if the Income Tax Act defined these terms. Unfortunately, it doesn’t—so how does a taxpayer know which one applies?

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