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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks -- Ignore unavailable to you. Want to Upgrade?

To: Sans Souci who wrote (192)	8/1/2000 7:35:00 PM
From: Robert Salasidis	Respond to of 548

Currency and share cap gains are counted as separate transactions. Such that if you never convert the currency back to CDN$ and leave it in US$ (for the next US stock you will buy) you do not have to claim any capital gains/loses on the currency part. Currency conversion capital gains is very difficult to calculate with todays Quicken as it does not keep track of currency transactions between accounts. Therefore some manual work would be in order.

To: Sans Souci who wrote (192)	9/26/2000 1:57:48 AM
From: Sultan	Respond to of 548

Just saw your note.. Kind of dated but I thought I'd respond anyway.. All american trades must be reported in Canadian dollar so in your example, you will have to convert your cost in Feb. by applying the foreign exchange rate.. If you have kept a record of the exchange rate on the date the transaction was executed, you apply that rate. If you did not keep track of the exact rate, you can look up the monthly avg. rate (offical Rev. Canada rates) for that month and apply.. You do the same for your October transaction.. This is one reason, now and then you will find that you might be loosing money on the actual trade but you might still end up showing profit because of the changes in exchange rate.. If you actually transferred canadian dollar to cover your purchase then it makes it easy because you'd have the info. but if you have an american dollar account then the above apply..