TAXES, TAXATION, TAX and Canadian stocks Message Board

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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks

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To: scouser who wrote (77)	3/5/2000 12:34:00 PM
From: mappingworld	Read Replies (1) of 548

So say you have $100,000 in your account 100% in nasdaq stocks and none of them canadian, the 1% penalty a month would be 1% of $80,000? Olga <<<The % foreign content rule. This one is not very well known, you can have 20% foreign content in your RRSP , that is common knowledge, but most people do not know you can have 100% foreign content by paying a 1% penalty per month on the amount over 20%, you do not need permission or anything special, your broker will add the penalty each month automatically. So if your RRSP was 100% foreign for the whole year you would pay 12% of 80% = 9.6% penalty on the total value as a penalty. The value of the stock will change each day so the $ penalty will also change, but your broker does that calc.>>>

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