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‘Tis the season for tax-loss harvesting and hunting for bargains among this year’s beaten-up stocks.
Investors have until Dec. 30 to sell securities to book losses against capital gains in their taxable accounts. Under a new rule that came into effect earlier this year, the settlement period for trades is only one day instead of two.
Investors also need to be mindful of the Canada Revenue Agency’s (CRA) superficial loss rule that prohibits repurchasing a security, such as a stock or fund, within 30 days following a tax-loss sale.
