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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks
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To: Sans Souci who wrote ()2/15/2000 12:41:00 PM
From: Sans Souci  Read Replies (3) of 548
 
LARGE CAPITAL GAIN - how to best avoid paying tax?

Let's use a typical scenario:

- individual, "average Joe" Canadian investor
- employed at average of $40K/yr
- sitting on a large, unrealized capital gain held in a few stocks (for example, $750,000)
- wants to cash in to make large purchase (eg. house)
- needs to raise the needed cash, BUT, will face a large tax hit of (almost 50%) if the gains are realized within the single tax year
- unsure about holding the shares long term since they are at the mercy of possible market downturn
- assumed that RRSP will be maxed out, plus any capital and non-capital losses from previous years will be applied

QUESTION:
Are there any tax manoeuvres which could minimize the tax hit on the capital gain?
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