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

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To: Kayaker who wrote (244)	11/2/2000 3:51:06 PM
From: Michael Dean	Read Replies (1) of 548

If my recollection is correct, you cannot deduct a loss realized by a transfer into an RRSP. You are continuing to hold the investment. If you do decide to sell it, the loss would be disallowed if you purchase the same security within 30 days (either way) of the disposition. So either continue to hold it outside your RRSP (if you think it will recover) or sell it to crystalize the loss (and be careful not to repurchase within 30 days). The recent reduction of capital gains inclusion rate has, IMO, swung the bias back towards striving for CG's outside of the RRSP and personally I have capped my RRSP at a certain level and if it exceeds that level I am withdrawing any excess in order to build a gains-oriented long term hold portfolio outside of the RSP. Mike Dean

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