RRSP Message Board - Msg: 12440517

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Pastimes : RRSP

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To: Condor who wrote ()	1/2/2000 5:05:00 PM
From: scouser	Read Replies (2) of 22

GRUB POST 1! Myth- you can only have 20% foreign stocks in your RRSP. You can have 100% , but you pay a per month penalty on the amount above 20%.( 1% I think) Yesterdays close rule. You can transfer cash or stock of equal value in/out of an RRSP account , the value going into your RRSP is valued as the close price of the previous day. This is a very powerfull option. Use it at much as you can. eg. you have 1000 shares of ABC company in you RRSP @$1 You bought 1000 XYZ company yesterday for $1 in your cash account. XYZ went up today 100% to $2. You call your broker before the close of business today and fax a signed letter of transfer. The value will be a straight swap at yesterdays close at dollar for dollar value, however XYZ is now worth $2 so you have sheltered a 100% gain in your RRSP . You think XYZ is now going to $1 , sell and keep the cash in your RRSP ready for the next swap. The trick is to be quick and shelter the big gains this way.

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