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

To: StockPro who wrote (3088)	5/3/1999 7:12:00 AM
From: The Osprey	Respond to of 4467

OK you guys go for it but I wouldn't touch it for those reasons.I would also look at Minimum alternative tax rules and check with a good tax accountant before executing that one.Stockpro you are right also in that you need the contribution room in your RRSP and wwhen you do the transfer you are using inflated dollars to pull this off.That room may be better used to offset a year of tremendous capital gains like this year. Now if someone wants to have a discussion on how to build a tax free pension plan or want to know how to buy a car and write of the interest against your tax return without having a business I will interject my expertise in this area. For clarification The withholding rules are: 0-4999 = 10% 5000-14999=20% 15000 and up = 30% Not being a smart ass but if someone cashes out an RRSP for 5000 thinking witholding tax is only 10 % they will be in for a surprise.Best to do it in 2 redemptions(refund of premiums) One for 1500 at 10% and one for 3500 at 10% a few days later.This allows you to get out 5000 at only 10% withholding. The Osprey