As eggnog lattes replace pumpkin spice beverages at your local café, it’s a sure sign that the holiday season — and year-end — is fast approaching.
With year-end approaching, now may be a good time to do some tax-loss selling as part of your annual portfolio rebalancing, such that the capital losses from your losers can be matched up with the capital gains from your winners. And, if you feel the losers may rebound, you can even buy them back, just not right away.
Foreign-exchange trapOne trick to watch out for is foreign exchange movements, which can turn what at first glance appears to be an accrued loss ripe for tax-loss selling into a taxable gain, once foreign exchange is taken into account. For example, let’s say that Tamar bought 1,000 shares of a U.S. company in November 2012 when the price was US$10/share and the U.S. dollar was at par with the Canadian dollar.
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