On January Geoffrey purchased shares of Ted Ltd at $ per share and shares at $ per share on February He sold of these shares on July at $ per share.
On September he purchased an additional shares of Ted. Ltd at $ per share. On December he sold Ted Ltd shares at $ per share.
Geoffrey owns shares of Baxter Ltd with an adjusted cost base of $ per share. On May he sells all Baxter Ltd shares at $ per share. On May he acquires shares of Baxter Ltd at a cost of $ per share and is still holding these shares at the end of the year.
On July Geoffrey sells a capital property Malpass Road with an adjusted cost base of $ for proceeds of disposition of $ In he receives $ in cash, along with the purchaser's note for the balance of the proceeds. The note is to be repaid in full $ in five years. Assume that Geoffrey deducts the maximum capital gains reserve.
In October, Geoffrey sold a different capital property Greenview Ave with an adjusted cost base of $ for proceeds of disposition of $ In he received $ in cash, along with the purchaser's note for the balance of the proceeds. The note is to be repaid at the rate of $ per year beginning in until it is fully repaid. He receives the payment of $ in full. Assume that Geoffrey deducts the maximum capital gains reserve in both and
Geoffrey purchased his first home in London, Ontario in at a cost of $ In he also purchased a cottage in Muskoka for $ In November, both properties are sold, the house for $ and the cottage for $ Both of these properties can qualify as a principal residence for him. He will designate the principal residence exemption in such a way that will minimize the taxable capital gains that he must report on the sale of these two properties.
Geoffrey owned a personal sailboat with an adjusted cost base of $ He sold it for $ in October
Geoffrey personally owned an oil painting that he purchased many years ago for $ He sold it for $ in June
Geoffrey kept a bench on the front porch of his home which cost him $ several years ago. He sold it for $ in January
Required: Determine the total net taxable capital gains included in paragraph b of Mr Guo's divison B income. Respond on P Response" tab. Final answers for each line item should be typed into the yellow boxes. Please show all your backup work in the designated green space for full marks.