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Gold/Mining/Energy : Precious and Base Metal Investing

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To: ralfph who wrote (16221)	8/11/2003 1:51:26 AM
From: Sexton O Blake	Read Replies (1) of 39344

Well I have one outside my RSP - (a couple in - including NT nykk nykk). Just my luck before I declare it a dud it will reinvent itself (from .COM to "Gold IZ U$" now wouldn't that be funny!) and consolidate 100 for 1 and I will have 10 shares! I think your premise is correct but I too am unsure of the mechanics. Found a couple of things: (A) ELECTION ON DISPOSITION OF CANADIAN SECURITIES ccra-adrc.gc.ca (doubt this is used for this purpose) (B) The term "deemed disposition" "Deemed disposition - expression used when you are considered to have disposed of property, even though you did not actually sell it." <------- THAT IS YOU!! ccra-adrc.gc.ca What caught me with your post was the statement: Apparently the tax department will accept this form about 1/2 the time. Please clarify this. Does not sound like a normal thing. You should be able to call up and ask (I think when you talk in their language they can help you better) - further, a visit to the local tax office might also do the trick - this is NOT UNCOMMON esp since the tech bubble burst. When I spoke with TD they seemed to suggest as it does not trade I cannot have it removed from my account (whereas an RSP you can -- but shouldn't if it is foreign). It might be as simple as "a letter" that states that XYZ no longer trades and I have a deemed disposition of "xxx shares". Then you just enter it on the T1 Schedule 3. I did a letter when they showed the PALM spinoff from 3COM as a dividend -- I just wrote what "I DEEMED" based on my calculations, what the COST BASIS was (sort of per an article in the Post). You might want to clarify if there is something you can do with the broker (have it removed) - I assume once it trades it would just sit in your account "dead" until you make enough to cover commission and then show a very small profit -- if ever. Anyahoo, hopefully that is something to go on. PLEASE keep me informed (PM if not here) as to the steps so I can look at doing the same. .. why I am answering/researching tax questions on Monday at 140AM is beyond me.. but so is doing the laundry and trying to kill that noisy cricket in the basement of which my wife can't hear but is driving me crazy (the sound of the cricket too!!!).. Wake up little Sexy.. Wake up.. :-; SoB

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