Tax questions? You ask lah! #177

Published: Wed, 06/26/24

Updated: Fri, 06/28/24

Tax questions? You ask lah!

Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!

Q:
I disposed of shares in a company. Is the gain subject to capital gains tax (CGT)?

A:
No, individual taxpayers are not subject to CGT. However, profits derived from the disposal of shares of a real property company by individuals are subject to Real Property Gains Tax (RPGT).

What is a real property company (RPC)?

A:
A real property company (RPC) is a controlled company, owns property or RPC shares in another RPC or both, and its total tangible assets are substantially (at least 75%) consisting of real property or RPC shares or both.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!

P.P.S. If you're liking these little tips, you can't imagine how much you'll get out of my course! https://bit.ly/free-webinar-english

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