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Assume I get 0 income and my Capital Gain doesn't fall. I live in ON. Call F the maximum federal ($12069 in 2019), and P the maximum provincial ($10582 in 2019) basic personal amounts. Retirement benefits are like CPP, GIS, OAS. After I maxed my TFSA and RRSP, I opened regular investment account.

I want realize Capital Gain of $90 000 NOT in TFSA or RRSP. I know 50% capital gain is taxed. To avoid tax, I sell (min(F, P) – Mandatory minimum RRIF Withdrawals – Retirement benefits)/0.5 every year of my investments until I realize $90 000. CRA's foxy and can figure out my tax avoidance. Will CRA punish me?

  • Are you filing tax returns? They would demonstrate that you don't owe any taxes. – RonJohn Nov 17 '19 at 23:29
  • Re: numbers $12069 and $10582. Those aren't tax bracket numbers. Did you mean to say the basic personal amounts? – Chris W. Rea Nov 17 '19 at 23:48
  • @ChrisW.Rea yes. thanks! fixed now. go ahead and rectify any thing in my post. – user11761 Nov 19 '19 at 2:48
  • You plan to file a tax return and declare (truthfully) an amount of income that is exactly the amount at which you still owe no tax? Why do you think this would be a problem? Is it because you are controlling your own income? Some people can do that. – Kate Gregory Nov 19 '19 at 3:09
  • @KateGregory But controlling my own income can be avoiding taxes. – user11761 Nov 20 '19 at 7:22

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