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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)
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To: md1derful who wrote (1833)11/13/1999 1:50:00 PM
From: keith massey  Read Replies (3) of 5053
 
As Canadians we must pay capital gains tax. If we hold stock outside of our RRSP accounts and sell them for a gain we pay tax on 75% of the gain. (e.g. sold a stock for $100,000 profit is the same as making $75,000 income and paying tax on it). If you are a professional trader you pay tax on 100% of you capital gains but also get to write off all you trading costs (e.g. computers, paper, rent, phone, etc.). If you are holding a stock in your RRSP you do not have to pay any tax on gains until you withdraw those funds.

Now as an American you are under a whole different set of rules. I am fairly sure that selling a stock for a gain in the U.S, Canada or Japan doesn't make a different....it is all capital gain and you get tax by the U.S government on this gain unless you have it secured in you 401K. The Canadian government doesn't get any money from you.

Best Regards
KEITH
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