Published: April 11, 2020
Last Updated: April 11, 2020
If you transfer money to a minor child and it earns capital gains instead of interest or dividends, the capital gain would be reported on your child’s tax return, not on yours, thereby reducing the family’s overall Canadian income tax liability.
Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
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