Chartered Investment Manager (CIM) Practice Exam · Question
An investor realizes a capital gain of $15,000 from the sale of Canadian equities in their non-registered account. They are in a marginal tax bracket of 40%. What is the approximate amount of tax payable on this capital gain?
In Canada, only 50% of a capital gain is taxable. Therefore, the taxable capital gain is $7,500 ($15,000 * 50%). At a marginal tax rate of 40%, the tax payable
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Question: An investor realizes a capital gain of $15,000 from the sale of Canadian equities in their non-registered account. They are in a marginal tax bracket of 40%. What is the approximate amount of tax payable on this capital gain?
Answer options: ✅ $3,000
- $6,000
- $9,000
- $15,000
Correct answer: $3,000
Explanation: In Canada, only 50% of a capital gain is taxable. Therefore, the taxable capital gain is $7,500 ($15,000 * 50%). At a marginal tax rate of 40%, the tax payable would be $3,000 ($7,500 * 40%).
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