Bulldogge wrote:On Dec 31, 2007 the stock x shares are paid for.
On Jan 01/2008 the stock x shares are transferred to an RRSP account.
Since its now 2008, and the shares are no longer on margin, the corresponding tax deduction for 2007 would be $11,000 for the RRSP contribution during the first 60 days of 2008
Doug wrote:I am a novice investor. Now I know that broker's commissions and US stock taxes are deductible from income tax when you sell the investment and pay capital gains or claim capital losses. I'd like to thank AltaRed for that help. Are there any other investment costs which are tax deductible?
morleymarkle wrote:Seconding queerasmoi's question. I thought commission was handled by adjusting the cost base on purchase, and the sale amount on sale.
squid wrote:Can you deduct the cost of converting currency for a US stock purchase?
morleymarkle wrote: Are you mainly talking about some managed portfolios; e.g. some of those accounts where they charge you x% of your balance per year for advice/management, in addition to any commissions they might make on trades?
If so, (dumb thought alert...), does this conceivably extend to the MER on mutual funds?
active wrote:Are these good enough alternatives but different enough to pass the CRA superficial loss smell test?
VTI - SPY
EFA - VEA
INP - IFN
FXI - GXC
patriot1 wrote:Even if two ETF's cover the same index they are not identical properties. For starters, they have different MER's.
Bylo Selhi wrote:Caveat: Even though I fully agree with you -- and put my money where my mouth is by switching from EFA to VEA a week or so ago -- there are some pretty knowledgeable people around who don't. There was an article a few years ago by the Canadian Tax Federation (written by Jamie Golombek IIRC) that warned people about the superficial tax loss rules when switching from one index fund/ETF to another that tracks the same index. At that time there was no precedent so Jamie's article was just a warning. I don't know if the situation has been clarified subsequently.
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