The loss which is incurred from the
disposition of capital property. Provisions
in the Income Tax Act provide for the
deduction of capital losses for both
individuals and corporations.
Example of Capital Loss
In 1993, Mrs. Williams purchased a
rental property containing four units at a
cost of $488,000 and a few years later sold
the property for $500,000. During the time
of ownership, she made no significant
improvements to the property. Real estate
commissions and other allowable expenses
amounted to $30,000 with legal fees totaling
$2,800.
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