| T1-2023 | Protected B when completed | ||||||||||||||||||||
| Capital Gains (or Losses) | Schedule 3 | ||||||||||||||||||||
| Complete this schedule to report your taxable capital gains on line 12700 of your return. If you need more space, attach a separate sheet. Attach a copy of this schedule to your paper return. |
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| For more information about capital gains or losses, including business investment losses, go to canada.ca/taxes-capital-gains or see Guide T4037, Capital Gains. If you realized a gain on a disposition, you may be able to claim a capital gains deduction on line 25400 of your return. If you have capital gains or losses on your T5, T5013, T4PS and T3 information slips, report them on line 17400 or line 17600 of this schedule. |
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| (1) | (2) | (3) | (4) | (5) | |||||||||||||||||
| Property type | Year of acquisition |
Proceeds of disposition |
Adjusted cost base |
Outlays and expenses (from dispositions) |
Gain (or loss) (column 2 minus columns 3 and 4) |
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| Qualified small business corporation shares (QSBCS) | |||||||||||||||||||||
| Number | Name of corp. and class of shares | (1) | (2) | (3) | (4) | (5) | |||||||||||||||
| Total | 10699 | Gain (or loss) | 10700 | 1 | |||||||||||||||||
| Qualified farm or fishing property (QFFP) | |||||||||||||||||||||
| Address or legal description | Prov./Terr. | (1) | (2) | (3) | (4) | (5) | |||||||||||||||
| Total | 10999 | Gain (or loss) | 11000 | + | 2 | ||||||||||||||||
| Mortgage foreclosures and conditional sales repossessions | |||||||||||||||||||||
| Address or legal description | Prov./Terr. | (1) | (2) | (3) | (4) | (5) | |||||||||||||||
| Total | 12399 | Gain (or loss) | 12400 | + | 3 | ||||||||||||||||
| Publicly traded shares, mutual fund units, deferral of eligible small business corporation shares and other shares | |||||||||||||||||||||
| Number | Name of fund/corp. and class of shares | (1) | (2) | (3) | (4) | (5) | |||||||||||||||
| Total | 13199 | Gain (or loss) | 13200 | + | 4 | ||||||||||||||||
| Real estate, depreciable property, and other properties (see principal residence and property flipping on pages 2 and 3) | |||||||||||||||||||||
| Address or legal description | Prov./Terr. | (1) | (2) | (3) | (4) | (5) | |||||||||||||||
| Total | 13599 | Gain (or loss) | 13800 | + | 5 | ||||||||||||||||
| Bonds, debentures, promissory notes, crypto-assets, and other similar properties | |||||||||||||||||||||
| Face value | Maturity date | Name of issuer | (1) | (2) | (3) | (4) | (5) | ||||||||||||||
| Total | 15199 | Gain (or loss) | 15300 | + | 6 | ||||||||||||||||
| Other mortgage foreclosures and conditional sales repossessions | |||||||||||||||||||||
| Address or legal description | Prov./Terr. | (1) | (2) | (3) | (4) | (5) | |||||||||||||||
| Total | 15499 | Gain (or loss) | 15500 | + | 7 | ||||||||||||||||
| Personal-use property (see principal residence and property flipping on pages 2 and 3) | |||||||||||||||||||||
| (Provide full description) | (1) | (2) | (3) | (4) | (5) | ||||||||||||||||
| Gain only | 15800 | + | 8 | ||||||||||||||||||
| Listed personal property (LPP) (LPP losses can only be applied against LPP gains) | |||||||||||||||||||||
| (Provide full description) | (1) | (2) | (3) | (4) | (5) | ||||||||||||||||
| Subtract: unapplied LPP losses from other years | – | ||||||||||||||||||||
| Net gain only | 15900 | + | 9 | ||||||||||||||||||
| Add lines 1 to 9. | Total of gains (or losses) of qualified properties and other properties | = | 10 | ||||||||||||||||||
| 5000-S3 E (23) | (Ce formulaire est disponible en français.) | Page 1 of 3 | |||||||||||||||||||
| Protected B when completed | ||||||||||||||
| Calculation of taxable capital gains (or net capital loss) in 2023 | ||||||||||||||
| Amount from line 10 of the previous page | 11 | |||||||||||||
| Capital gains deferral from qualifying dispositions of eligible small business corporation shares | ||||||||||||||
| included on line 4 of the previous page | 16100 | – | 12 | |||||||||||
| Line 11 minus line 12 | = | 13 | ||||||||||||
| Capital gains (or losses) from T5, T5013 and T4PS information slips | 17400 | + | 14 | |||||||||||
| Capital gains (or losses) from T3 information slips | 17600 | + | 15 | |||||||||||
| Add lines 13 to 15. | = | 16 | ||||||||||||
| Capital loss from a reduction in your business investment loss | 17800 | – | 17 | |||||||||||
| Total of all gains (or losses) before reserves: line 16 minus line 17 | 19100 | = | 18 | |||||||||||
| Reserves from line 67060 of Form T2017 (if negative, show in brackets) | 19200 | + | 19 | |||||||||||
| Total capital gains (or losses): line 18 plus line 19 | ||||||||||||||
| (if line 19 is negative: line 18 minus line 19) | 19700 | = | 20 | |||||||||||
| Applicable rate | x 50% | 21 | ||||||||||||
| Line 20 multiplied by the percentage from line 21 If the amount is positive, enter it on line 12700 of your return. |
2023 Taxable capital gains |
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| If negative (a loss), see below. | (or net capital loss) | 19900 | = | 22 | ||||||||||
| If line 22 is negative | ||||||||||||||
| If the amount at line 22 is negative (loss), do not report it on line 12700 of your return. Instead, use your latest notice of assessment or reassessment to find out the amount of the loss that you can use to reduce your taxable capital gains of other years. |
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| If you have a net capital loss in 2023 that you would like to apply against the taxable capital gains that you reported on your 2020, 2021 or 2022 return, complete Form T1A, Request for Loss Carryback. |
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| You can carry forward your net capital losses indefinitely and apply them against your taxable capital gains in the future. | ||||||||||||||
| Principal residence | ||||||||||||||
| Complete this part if you disposed of a property (or properties) in 2023 that you are claiming a principal residence exemption for. | ||||||||||||||
| Also complete Form T2091(IND), Designation of a Property as a Principal Residence by an Individual (Other than a Personal Trust), or Form T1255, Designation of a Property as a Principal Residence by the Legal Representative of a Deceased Individual, whichever applies. |
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| Even if you do not sell your property, you may have a deemed disposition that you must report. A deemed disposition occurs when you are considered to have disposed of property even though you did not actually sell it. For example, a deemed disposition may occur when you change how you use your principal residence, such as when you change all or part of your principal residence to a rental or business operation, or change your rental or business operation to a principal residence. |
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| If you were not a resident of Canada for the entire time you owned the designated property, your period of non-residence may reduce or eliminate the amount of the principal residence exemption. For more information, see Income Tax Folio S1-F3-C2, Principal Residence. |
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| Principal residence designation | ||||||||||||||
| Tick the box that applies to your designation of the property described on Form T2091(IND) or Form T1255. | ||||||||||||||
| 17900 | 1 | I designate the property as my principal residence for all of the years that I owned it or for all of the years that | ||||||||||||
| I owned it except one year. | ||||||||||||||
| 2 | I designate the property as my principal residence for some but not all of the years that I owned it. | |||||||||||||
| 3 | I designate the properties as my principal residences for some or all of the years that I owned them. | |||||||||||||
| See the privacy notice on your return. | ||||||||||||||
| 5000-S3 E (23) | Page 2 of 3 | |||||||||||||
| Protected B when completed | ||||||||||||
| Property flipping | ||||||||||||
| A flipped property is a housing unit (including a rental property) located in Canada or a right to acquire a housing unit located in Canada that you owned or held, for less than 365 consecutive days before its disposition (12-month holding period). A property is not considered a flipped property if it was already considered to be inventory or was owned or held for 365 or more consecutive days before its disposition or if the disposition occurred due to, or in anticipation of, certain life events as listed at line 17906 below. |
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| If you disposed of a flipped property, the resulting gain on the disposition is taxable as business income and not as a capital gain. To report this transaction, complete Form T2125, Statement of Business Income or Professional Activities. |
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| Did you dispose of a housing unit, or a right to acquire a housing unit, located in Canada (including a rental property) that was not already considered inventory and was owned for |
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| less than 365 consecutive days before the disposition? | 17905 | Yes | No | |||||||||
| If no, the housing unit is not considered a flipped property and any gain from the disposition of the property is taxable as a capital gain. |
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| If yes, was the disposition due to, or in anticipation of, any of the following life events? (tick the boxes that apply, if any) |
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| 17906 | 1 | the death of the taxpayer or a related person | ||||||||||
| 2 | a related person joining the taxpayer’s household or the taxpayer joining a related person's household | |||||||||||
| (for example, moving in with a spouse or common-law partner, for the birth of a child, adoption, or care of an elderly parent) |
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| 3 | the breakdown of a marriage or common-law partnership where the taxpayer had been living separate and | |||||||||||
| apart from their spouse or common-law partner for at least 90 days before the disposition | ||||||||||||
| 4 | a threat to the personal safety of the taxpayer or a related person (for example, domestic violence) | |||||||||||
| 5 | a serious disability or illness of the taxpayer or a related person | |||||||||||
| 6 | the eligible relocation of the taxpayer or their spouse or common-law partner where the taxpayer's new | |||||||||||
| home is at least 40 kilometres closer to the new work location or school (generally, an eligible relocation allows the taxpayer to carry on business, be employed or attend full-time post-secondary education) |
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| 7 | the involuntary termination of employment of the taxpayer or their spouse or common-law partner | |||||||||||
| 8 | the insolvency of the taxpayer (for example, due to an accumulation of debt) | |||||||||||
| 9 | the destruction or expropriation of the taxpayer's property (for example, when the property is destroyed due | |||||||||||
| to natural or man-made disaster) | ||||||||||||
| If you answered yes at line 17905 and one or more of the life events above apply to you, the housing unit is not considered a flipped property and any gain from the disposition of the property is taxable as a capital gain. For more information, go to canada.ca/real-estate-income. |
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| If you answered yes at line 17905 and none of the life events above apply to you, the housing unit is considered a flipped property and the gain is taxable as business income. To report this transaction, complete Form T2125, Statement of Business Income or Professional Activities. For more information, go to canada.ca/taxes-businesses-income or see Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income. |
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| For more information about property flipping, go to canada.ca/cra-property-flipping. | ||||||||||||
| See the privacy notice on your return. | ||||||||||||
| 5000-S3 E (23) | Page 3 of 3 | |||||||||||