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Would it be possible to have the Capital Gains Exemption figure on the carryforward summary changed?
As it stands the figure is the total of all prior years CGE's claimed by the taxpayer lumped together at the various inclusion rates. This does not give any realistic information since it is effectively a mixture of apples and oranges.
For instance; if a taxpayer had a 100,000 capital gains in 1998 (taxable as 75,000) and 100,000 in 2001 (taxable as 50,000) which qualified for the capital gains exemption my carryforward schedule shows 125,000 capital gains exemption used. From this figure you can not tell how much of the 500,000 has been used or how much is left.
In my opinion the capital gains exemption should be stated as either a function of the gross amount of 500,000 or the taxable amount of 250,000. Previous exemptions claimed at the different inclusion rates should be either grossed back up to the raw gain or adjusted down to be equivalent to today's taxable rate (being 50%).
In my example the carryforward should yield either 300,000 or 150,000 depending on which method was chosen by the software developer to keep track of the carryforward.
I believe someone also mentioned the same problem was happening with "Net Capital Loss" carryforwards (being lumped together at their various inclusion rates).
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Capital Gains Exemption Carryforward
MultiQuote
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