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

To: Kayaker who wrote (234)	10/20/2000 2:54:18 PM
From: Jim Bishop	Respond to of 548

Thanks. Well if it happens, it happens I guess. I'm not worried about years prior to 1999, not enough trades and most of my trading back then was in my RRSP. I think I would have a problem if they went back in 1999 and wanted interest. With the rules not very clear, that might be worth fighting with them about.

To: Kayaker who wrote (234)	10/21/2000 5:59:42 PM
From: Bicycle	Respond to of 548

My accountant gave an example used in his course work... If you have a fruit tree, the fruit you pick is income and the growth of the tree is capital appreciation. He went further and explained that what looks like income, acts like income, and smells like income, will be considered income by the tax guys no matter how loudly you proclaim it should be capital. He then gave me copies of the interpretation bulletins with the applicable words highlighted. Also, implied, but not said, was that if my investing habits match the definition of a income trader in too many ways, I'm a trader. So, now I don't trade. I sell a few shares every January, raising enough to pay the bills. Now that the inclusion rate has been adjusted downward, I look forward to selling fewer (lower tax obligations) next year. Have a nice weekend, F.D. P.S. Capital gains taxes are a travesty. If Peter spends all he earns, he doesn't accumulate capital: If Paul saves, he do. Both paid taxes on income. Paul's wisdom leads to his punishment.