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December 2015 eUpdate |
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Tax-Loss Selling
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On December 2, 2015, Smith Falconer Financial Group will be donating a portion of your Portfolio Partner® fees to help raise money to make a difference in the lives of children in our community. For those of you who are not enrolled in Portfolio Partner and are planning to do any tax-loss selling before year end, you may want to consider initiating these trades on December 2 in support of this cause.
Tax-Loss Selling — Is It The Right Option For You?
If you realized capital gains on the sale of assets this year, you may benefit from tax-loss selling if you hold assets in a non-registered account with unrealized capital losses. Selling those assets may allow you to offset your realized capital gains with realized capital losses.
Factors to consider:
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The selling transaction must settle before the last business day of the year, which means you must place the trade no later than December 24, 2015.
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You can apply the realized capital loss against any capital gains realized in 2015. If you have capital losses that cannot be used in full in 2015, you can carry the loss back to offset net capital gains realized in 2012, 2013 or 2014, or you can carry the losses forward indefinitely to offset net capital gains in future years.
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The capital loss from the sale of a security will be denied if you or your spouse purchase an identical security within 30 calendar days of the date you sold the security.
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We would be pleased to work with you and your tax advisor to determine if you can benefit from tax-loss selling this month. We extend warmest wishes to you for a wonderful holiday season with health, happiness and prosperity in 2016.
Very best regards,
CIBC Wood Gundy
Smith Falconer Financial Group
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This information, including any opinion, is based on various sources believed to be reliable, but its accuracy cannot be guaranteed and is subject to change. CIBC and CIBC World Markets Inc., their affiliates, directors, officers and employees may buy, sell, or hold a position in securities of a company mentioned herein, its affiliates or subsidiaries, and may also perform financial advisory services, investment banking or other services for, or have lending or other credit relationships with the same. CIBC World Markets Inc. and its representatives will receive sales commissions and/or a spread between bid and ask prices if you purchase, sell or hold the securities referred to above. © CIBC World Markets Inc. 2015
Clients are advised to seek advice regarding their particular circumstances from their personal tax and legal advisors.
® Portfolio Partner is a registered trademark of CIBC World Markets Inc. There are a maximum number of commission-free trades allowed each year, based on the value of your account. Trades and annual fees are pro rated on an annualized basis. A standard trade fee applies to excess trades. A minimum household account balance of $100,000 is required.
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