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

To: russet who wrote (474)	11/26/2001 11:38:17 PM
From: Kayaker	Read Replies (1) \| Respond to of 548

I draw that conclusion from the court case of Arcorp Investments. fja.gc.ca [23] Subsection 39(4) of the Act, which was first enacted by Parliament in 1977, provides for an election of gains or losses in Canadian securities to be treated as capital. . . . (3) Issue No. 3 -- Was Arcorp entitled to elect? [31] Subsection 39(4) of the Act provides exceptions in subsection 39(5) to an election; the first prohibition is that a trader or a dealer in securities could not elect. . . . [36] As noted, I found in issue No. 1 that Arcorp's securities activities exhibited a badge of trade and a manner of operating similar to that of a trader in securities. I therefore find that Arcorp is a trader in securities within the meaning of paragraph 39(5)(a) of the Act and was not entitled to make the subsection 39(4) election.