Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: Wyätt Gwyön who wrote (3956)	12/25/2003 6:02:13 PM
From: EL KABONG!!!	Read Replies (2) of 4905

Hi Darfot, I've been told (not confirmed yet) that the taxes on the Australian Gold ETF or the London Gold ETF would involve first paying (and deducting from the taxable amount in the USA) the respective foreign taxes, and then paying the respective USA (or Canadian) taxes on what profits remain. In the USA, any profits are considered to be short term capital gains, and taxed at ordinary income rates, which depending upon an individual's tax bracket, could easily "eat up" enough of the potential profits to seriously impact upon the risk/reward ratio of investing in the ETF in the first place. A better choice is to wait for the USA-based Gold ETF and avoid the issue of foreign taxes altogether. But an even wiser choice might be to just buy and hold bullion yourself. The issues of storage and insurance can be mitigated somewhat by using the relative safety of one or more safe deposit boxes in a secure financial institution, or if you don't mind the risk, simply bury your "treasure" in a secure location under your home's foundation and forget about storage costs and insurance... <g> KJC

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