CAPITAL GAINS AND LOSSES IN CANADA
AbstractAlthough capital gains are not taxed in Canada, the definition of capital gains has attracted much litigation. The new Income Tax Act, however, tends to include almost all capital profits within its concept of taxable income. The author seeks to reconcile the capital gains exemption with the apparent meaning of the new statute, arguing that the tendency is too weak to prevail against traditional judicial interpretation under the Income Tax War Act.
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