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

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To: BoomBoom who wrote (102)	3/6/2000 3:13:00 PM
From: Frank Walker	Read Replies (1) of 548

re foreign content in RRSP: Are you saying you have been selling enough foreign content to get below the 20% level by the end of each month, so as to avoid the penalty charge? That is an interesting tactic for your short-term trades, but it would not be able to "hide" long-term holds (> 1 month). I think TD Waterhouse calculates foreign RRSP content, and all other balances etc, as of the last day of each month. They print it out on the monthly hardcopy statement. Almost certainly the foreign content and any penalty is calculated by their computer account management systems, so it is zero hassle for the human brokers/reps. In the past I have been slightly over the 20% foreign limit for about a year, and I recall they debitted my account for the penalty only about every 3 months (quarterly), which made things a bit confusing, they may have a different procedure now. Currently I'm about 19.95% foreign content by book value, much higher by actual market value </grin>. ILG

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