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Strategies & Market Trends : Beat The Street With SI Traders -- Ignore unavailable to you. Want to Upgrade?

To: howestreetbull who wrote (156839)	12/2/2014 2:42:09 PM
From: ralfph	Respond to of 233846

The conservative government warned that this would happen when the TSFA was first implemented. Tax department is an odd beast. Years ago they told a group of investors that they were a business and could not declare their gains as Capital gains. After some thought the group set themselves up and wrote everything that a business could write off. This was the following year. Sure enough they paid less taxes than they would have if they were just paying Capital gains. The group had actually warned the tax department that they would get less taxes from a business than they would if the group was left alone and taxed at capital gains. The tax department promptly told them they were not a business and had to go back to doing their books as Capital gains. Because it took a lot of effort to set the business up . And because the tax department had moved the goal posts a second time . This became a court case . The group won . Judge told the Tax department " You can not keep adjusting the rules so that you can gain the most taxes" As I stated earlier - the Tax department could have made more money by leaving the group alone and the group had taken the high road and pointed this out to the department. TFSA - perhaps it needs a trading limit in any given year. But that is up to the government to create that the tax department to implement, not versa visa.