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

To: Cush who wrote (447)10/19/2001 11:40:39 AM
From: Sultan  Read Replies (2) | Respond to of 548
 
There will be some tax loss selling but not much and yes, as I understand it, you can request the Revenue dept. to essentially redo last three years of your tax returns, based on this year's.. Years ago, this was done routinely and automatically in some situations but now you have to request it by filling appropriate forms..

This is worth looking into depending on the losses on the books and what your last 3 years returns looks like.. And some one have suggested it in a column in FP.



To: Cush who wrote (447)10/20/2001 12:15:06 AM
From: rocki  Read Replies (1) | Respond to of 548
 
>>>Can a loss this year be applied to previous years' gains for example?

Yes, up to 3 years back. I just checked with Rev Can a few days ago.
Based on that, it seems likely a lot of tax selling this year-end, as I suspect a there was a lot of gains in the past couple of years.


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