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Gold/Mining/Energy : Royal Oak-RYO

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To: roger fontaine who wrote (500)	11/25/1997 6:33:00 PM
From: Richard Saunders	Read Replies (1) of 1706

Roger/".I predict the selling of RYO then the repurchasing in January of 98." Careful. If you're in Canada and you book a loss with the sell transaction and you, or a related party (usually spouse, not kids or parents), rebuy the same thing EITHER 30 calendar days BEFORE or AFTER the capital loss transaction the tax folks won't allow the loss. The loss is known as a SUPERFICIAL LOSS and will be disallowed. The disallowed amount will be added to the adjusted cost base of the transaction which created the superficial loss. In effect you'll be able to eventually use the amount but it won't be until later..... Confusing?........ check with the tax folks. I'm not a tax expert.

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