Your tax worksheet
Assets
Estimated value (a)
Cost (b)
Capital gain (a - b)
Capital gain = estimated value - cost
Principal residence
N/A
N/A
Cottage/vacation property
Business or farm
Other capital property
Other personal property
Total capital gains
(1)
Income tax on capital gains
Total capital gains from (1) above
$
Unused amount available under the capital gains exemption*
$
Tax payable on capital gains
(Total capital gains - exemption) × inclusion rate × your marginal tax rate
$
(a)
RRSPs, RRIFs, pension plans
Total estimated value of RRSPs, RRIFs, pension plans
$
Tax payable on RRSPs, RRIFs, pension plans
(Total estimated value of RRSPs, RRIFs, pension plans × your
assumed tax rate on your final tax return)
Total taxes payable on (second) death
$
(b)
$
(a+b)
Shaded areas are not
to be completed.
*capital gains exemption for qualified business corporation shares or farm business or property is currently $500,000.
The information presented in this worksheet is based on current Canadian tax laws, which may change. This worksheet is intended as
general information only and should not be relied upon as the basis for tax or estate planning decisions. Consult your tax advisor about your
particular situation. Persons who are not resident in Canada or who are resident in Canada but are citizens of another country, may be
subject to different tax rules in Canada and may also be subject to taxes levied by jurisdictions other than Canada.
The figures above are assumptions of the assets’ estimated future value, and they will change over time depending on interest rates and how
you deplete your assets (income from retirement plans, sale of assets, etc.). An annual review with your financial security advisor will help
ensure your estate plan will continue to be effective.
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