[Rinty]

rs:

I'm not an accountant either, but here is how I understand it works:

In your example, the total of the capital cost allowance that you have claimed over the years is added to your income in the year of sale. This will push you into a higher tax bracket.

Any capital loss you take can be deducted from capital gains only. You may be able to carry back a few years and carry forward a few years, but I'm not sure.

Finally, these concepts aren't rocket science, and any accountant should be able to prepare the return for you. You won't need a tax accountant.

Also, ask the accountant about Terminal Loss, as this concept is complex.