Module 6: Capital gains and losses - PD Net
Module 6: Capital gains and losses - PD Net
Module 6: Capital gains and losses - PD Net
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Course Schedule Course <strong>Module</strong>s Review <strong>and</strong> Practice Exam Preparation Resources<br />
Example 2 solution<br />
Painting<br />
POD $ 3,000<br />
Deemed ACB [46(1)] (1,000)<br />
Gain on disposition of LPP $ 2,000<br />
Set of stamps<br />
POD $ 1,500<br />
ACB (1,200)<br />
Gain on disposition of LPP $ 300<br />
Diamond ring<br />
POD $ 2,000<br />
ACB (3,500)<br />
Loss on disposition of LPP $ (1,500)<br />
<strong>Net</strong> gain on the disposition of listed personal property [41(2)]<br />
$2,000 + $300 – $1,500 = $800<br />
Taxable net gain on the disposition of listed personal property [41(1)]<br />
1/2 × $800 = $400<br />
The $400 is included in income under clause 3(b)(i)(B).<br />
file:///F|/Courses/2010-11/CGA/TX1/06course/m06t04sol2.htm[11/10/2010 4:42:00 PM]
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