Quote:
Originally Posted by Tron_fdc
Huh. I just went through this with my grandpa's estate, and his shares in our company, and for some reason I had a higher number stuck in my head.
Although the gaping hole left in my arse by revenue canada could be throwing off my memory.
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Capital gains are half tax free so you're only taxed only half of the cap gain. If you're in the top tax bracket, which in Alberta is 39%, it's 19.5% (.5 x .39 = 19.5%). This was your grandpa's estate, so it's his tax bracket in the year of death that determines the taxes paid. Don't forget to add any dividends to boost the adjusted cost base, which reduces the taxes owed.