You do not have to pay capital gains. You do not even have to report capital gains. And if you do report capital gains and pay capital gains, then congratulations: you have just joined the stupid club.
There is a line on your tax return, which is line 12,700, and if you put even one dollar there, there are three additional forms you have to fill out. These forms are so confusing that even the average CPA doesn't know what to put on them, which means you've opened yourself up to being questioned by the CRA and having them issue a massive tax bill.
Every CPA in Canada is absolutely terrified of the CRA to the point where they will tell you that you cannot avoid a capital gain. However, when they are giving you that really awful advice, it is not them who are paying the tax bill they create for you; it is you paying the tax bill.
If you have a capital gain, make sure I am your tax guy and you won't have a capital gain. If you are afraid of the way I do taxes, no problem: you can buy capital losses from me, which I can put down on your ledger and wipe out whatever capital gains you are going to have.
The deal is this, everybody: there are no guarantees in life and fortune only favors the bold. So you need to be bold and tell the CRA where to go.
If you don't want to be bold, then let me be bold on your behalf, because I'm the boldest man who ever lived.
My name is Kevin J. Johnston, Canada's number one tax expert. It's time for me to make you rich.
