Capital gains triggered in Period 1 (Jan. 1 to Feb. 27) carry an inclusion rate of 75 per cent Capital gains triggered in Period 2 (between Feb. 28 and October 17 ) carry an inclusion rate of 66 2 ...

Now, we're ready to calculate Dave's capital gain, in Canadian dollars, if he were to sell today. It is the sale proceeds of $161.11 minus the ACB of $75, or $86.11.

The Income-tax Act of 1961 outlines set guidelines for offsetting capital gains and losses. This enables taxpayers to deduct losses from gains effectively, ultimately reducing their tax burden.