Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Natural Resource Stocks -- Ignore unavailable to you. Want to Upgrade?

To: jimsioi who wrote (20021)	1/13/2005 1:49:40 PM
From: the Zwei	Read Replies (2) \| Respond to of 108662

What do you see in Bonavista? I am looking for another CanRoy to invest in. Maybe foolishly, I sold off my Peyto because I felt that it was priced to perfection and now I am sitting on a chunk of cash with NG going higher. Zwei

To: jimsioi who wrote (20021)	1/13/2005 7:25:48 PM
From: Taikun	Read Replies (1) \| Respond to of 108662

<I keep telling myself I have to get a Canadian brokerage account...just what I need, more administrative headache...that's my rational for inaction...> Jim, As a Canadian in the US I can tell you this is virtually impossible as an individual. You can thank the US gov't for getting the CDN gov't to restrict Americans from opening accounts. The only exception is Canadians in the US for a short period, or retirement accts left in Canada when a Canadian went to the US (neither apply to me). I consulted with a tax accountant in N. Vancouver and a Securities lawyer in Vancouver on a separate personal matter and during those meetings asked both about options. The only course of action would be to set up a Canadian corporation to open the CDN brokerage acct, and thus pay Canadian taxes. Even in the cheapest province for corporate taxes (Alberta) that would still be a tax rate of 12.5% plus annual filing fees, and on top of that I was told "It is hard to get the money out", and once you repatriate to the US tax would be applied again. I don't know about your circumstances but for me this was punitive, particularly against CanRoy income. Perhaps it is better for you to look offshore for brokerage options outside the US. D