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.

Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (1094)	11/6/1998 11:49:00 AM
From: chris	Read Replies (1) \| Respond to of 4467

You can only apply capital gains against capital losses from previous years. (ie. i made capital gains last year, but if i lose this year, i can re-do my 97 taxes and subtract this years losses from last years gains.) You cannot apply capital losses to taxable income. Is this correct, as i understand it.

To: the Chief who wrote (1094)	11/6/1998 1:32:00 PM
From: AriKirA	Read Replies (2) \| Respond to of 4467

Hope the following site answers your questions: Subject 17266 As to what was mentioned earlier, if I am not mistaken, income generated by daytrading should normally be viewed as revenue since the latter is the taxpayer's principal source of income and should therefore generally be included as revenue in the computation of income thus excluding the possibility to claim it as a capital gain/loss. Revenue Canada normally looks at the frequency of trades, the holding period, proportion of a taxpayer's total income generated by daytrading, etc ... If this is not the case, can someone please enlighten me!!! Thanks in advance Regards AK