GREY:CNKEF - Post by User
Comment by
backabockon Jan 04, 2017 4:47pm
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RE:RE:RE:RE:RE:Craft Oil question
RE:RE:RE:RE:RE:Craft Oil questiondivot111 wrote: What? Yes you can transfer them. You can also leave them in a registered account and lose 50% of any gains as opposed to paying capital gains in a cash account. Craft showed up as an OTC/pinksheet in many accounts and those are not deemed qualified investments according to CRA. They take 50% of gains so you don't turn 50000 dollars into a million in a couple days and walk away with it tax free. Anyone who plays pinksheets knows how volatile they can be. I had one just increase from .0001 to .0036 in about three days. Although that's not what I cashed out at.
All that being said the above is what my broker told me today. He also told me that they have done a correction and craft shares will soon be deemed a qualified investment so no need to transfer or sell them if you could. They said I will be receiving another letter shortly that outlines the change and it will reflect in how the shares are shown in my account. No action required. Hope that clears things up for anyone who received the same type of letter.
Okay, I don't even think Craft is OTC/Pink. It currently shows up as $0.00. I'm not sure what kind of crazy tax problem you will create for yourself if you deregister it, because you don't know your ACB, and you don't know what your witholding tax is (if anything.) If you do deregister, I'd run it by your accountant.