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

To: eWhartHog who wrote (3095)	5/4/1999 11:13:00 AM
From: keith massey	Read Replies (1) \| Respond to of 4467

Nice loop hole eWhartHog...of course then I would have to leave the warmth of Winnipeg winters for some cold tropical climate. As a side note...a friend of mine moved to the middle-east last year for a two year position. He got himself declared a non-resident but was able to leave his cash trading account in Canada. He is allowed to trade this account but is not taxed capital gains on the account as long as he is out of the country. Best Regards KEITH

To: eWhartHog who wrote (3095)	5/4/1999 7:53:00 PM
From: Nawien Sharma	Read Replies (1) \| Respond to of 4467

>> Emigrate from Canada, then make your withdrawal. In the absence of an applicable tax treaty, lump-sum withdrawals are taxed at a flat 25% rate, and periodic payments at a lower rate. International tax treaties reduce the tax liability to lower levels, even zero, in some cases.<< I agree. Leaving Canada is the best method. There is a skinny book that was a best seller a few years ago called "Take Your Money and Run" by Alex Doulis, Uphill Publishing. It was written in a similar fashion as "The Wealthy Barber". Have a browse at your favourite Chapters. There was a follow up book called "My Blue Haven" on the topic of tax havens. The government did reach a tax treaty with Ireland soon after the first edition was published. In the book, the non resident Canadian withdrew all of their RRSP without paying any tax. Tax free living is the topic of the rest of the book. A must read for anyone IMHO. (OFF TOPIC- And Oh, before I forget, if you are in a position to receive any inheritance, do not allow it to go to probate. You'll lose everything especially in Ontario.) Regards