Maria owns shares in a Canadian public corporation with an adjusted cost base of $20,000. She sells these shares for $35,000. Assuming she has no other capital gains or losses, what is her taxable capital gain?

Question: Maria owns shares in a Canadian public corporation with an adjusted cost base of $20,000. She sells these shares for $35,000. Assuming she has no other capital gains or losses, what is her taxable capital gain?

Answer options: ✅ $7,500

• $15,000
• $20,000
• $35,000

Correct answer: $7,500

Explanation: The capital gain is $35,000 (proceeds) - $20,000 (adjusted cost base) = $15,000. The taxable capital gain is 50% of the capital gain, so $15,000 * 0.50 = $7,500.