What are outlays and expenses used in calculating capital gain and loss

Outlays and expenses are amounts that you incurred to sell a capital property. You can deduct outlays and expenses from your proceeds of disposition when calculating your capital gain and capital loss. You cannot reduce your other income by claiming a deduction for these outlays and expenses.

These type of expenses including:

  • fixing-up expenses;
  • finders’ fee;
  • commissions;
  • brokers’ fees;
  • surveyors’ fees;
  • legal fees;
  • transfer taxes, and
  • advertising costs

Tax on interest, dividends, and capital gains

What percentage of capital gains is taxable?

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