OTCQX:MRVFF - Post by User
Comment by
Montrose2on Sep 08, 2009 9:29pm
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Post# 16288200
RE: RE: Tax Break
RE: RE: Tax BreakIn the case of NRI this kind of advantage is best used by people who have been in for a long while. Those who are in the 10.00 plus category can formalize their loss which can be used to offset gains in other parts of their portfolio. If they continue to believe in NRI they can essentially start again.
The loss established is part of the overall tax situation. Not limited to NRI alone. Butttttttttttt must be use to offset capital gains. One of the common errors of we lay people is the mistaken belief that you can claim capital losses(losses on stock) against employment income. Many, many nasty notices received from Revenue Canada explaining it doesn't work that way.
No, not holding myself up as any kind of expert. Just laypersons information picked up along the way.
Bottom line. For we who are within a few cents of break-even or perhaps we who are relatively "Johnny come lately", the loss provisions don't apply. Hippygirl has apparently been involved with this issue for a long, long while and she seems appropriately to take that more global perspective.
Onward and Upward.