GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
50% - Moderately

Long-term Capital Loss


Synonyms:perpetual capital loss
Filed Under: financial-banking, investments
Tags: banking, investment
 

Definition of long-term capital loss

long-term capital loss
1. Loss from the sale of a capital asset that is held for more than one year (12 months).

Related Terms and Acronyms:

  • capital gain (CG)   The profit made by the seller when real estate or other capital assets are sold. Capital gains are taxed more favourably than earned income. However, this can be dependent on your tax bracket and the length of time you owned the asset before it was sold. You could pay approximately one-third to one-half less tax than you would pay on the same amount of earned salary.
  • capital gains tax (CGT)   A tax on profits from the sale of real estate or investments.
  • capital loss   When an asset is sold for less than what you paid, or less than its adjusted basis, it is a capital loss. However, when it comes to taxes a capital loss is not always bad because you can use it to reduce the amount of income being taxed by the amount of the loss, up to $3,000 per year. If your loss is more significant, the excess (or capital loss carryover) can be carried forward indefinitely until the total loss is used.
  • long term capital gain (LTCG)   Your loss from the sale of a capital asset that you held for more than 12 months.
  • long-term liabilities   Money owed over a period longer than 12 months, such as mortgages, bank loans, and other obligations.
  • pre-tax operating income (PTOI)   The operating income generated by a company, less expenses, before taxes have been paid.
  • short-term capital gain (STCG)   Your gain from the sale of a capital asset that you held for one year or less.
  • short-term capital loss   Your loss from the sale of a capital asset that you held for one year or less.

Search the Glossary

Mortgage Rates
Ready access to and relationships with a vast array of lenders gives our brokers the unique ability to offer you amazing mortgage rates and flexible products.
Mortgage Rates
 
Mortgage Calculator
How does an adjustment in the size of your down payment change how much you'll end up paying for your new home? The difference can be staggering. Use our mortgage calculator and see how a simple change can save you tens of thousands of dollars.
Mortgage Calculator
 
Mortgage Brokers Are Up To Date
Staying up-to-date on mortgage rates, terms, and the best products available in Canada is what a mortgage broker does for you. Make sure that you get the best possible financing and rates, use a mortgage broker.
Try a Mortgage Broker