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Our response:

Capital gains are taxable in the year they are realized. You pay tax on 50% − or half − of a capital gain. Learn more about calculating and reporting your capital gains and losses from the Canada Revenue Agency.

You may be able to reduce the amount of tax that you pay by contributing to your RRSP in the same year. You must have contribution room available.

We are not able to provide advice. Speak to a financial advisor or tax professional to learn how to maximize the use of the proceeds from your capital gain to make an RRSP contribution.