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

To: the Chief who wrote (1163)	11/10/1998 8:51:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 4467

Re Limited Company Hi Chief, There is one other benefit from trading in a limited company ... You can be taxed at the small business rate up to $200,000 per year. In effect this means that you are taxed at a rate that works out almost the same, whether you are claiming it as income or capital gains. The downside is that you have to pay tax at a personal rate when you eventually take it out of the company, although you can pay it out as dividends and claim the preferred rate. You will also have at least 1-2k of accounting expenses per year, depending how much of the books that you do yourself. People really need to talk to their accountant. John