RE:RE:What’s your exit strategy? Okie. So you'll only be selling when prices have reached a fair valuation. Then you'll maintain a 1:1 leveraged position and keep these for dividends and sell at a slower pace. Got it. Thank you again for sharing with us.
I usually look at things from a more positive angle, so a seven-figure tax bill is worth a celebration. :-) Make sure you let the CRA count your gains as capital gains and not income. Even if you were trading, you can still select this option. There is a form for it. You can mail it in. Once you have made the selection, you can not go back and change it. Capital gains works out much better for me because only 50% of it is taxable. I am willing to pay much more taxes and with a big glee on my face if that means the money is utilized for the betterment of society; not happy to support able-bodied couch potatoes who don't want to work simply because they don't want to.
I will have a sizeable tax bill next year myself, for the gains I've crystallized. I have set aside enough money to cover it. An ideal scenario would be not having to sell any more until the following tax year. I will make my decision according to how the situation will pan out.
So for now Trudeau is not touching the capital gains inclusion rate. I don't know how much longer he can ignore this cash cow and leave us alone. It's also very likely that he'll win again. I talked to a lot of people who were staunch Conservative supporters who said they would never vote the Conservatives again for supporting the anti-vax truckers illegal occupation. They were also in total agreement to what Trudeau had done, which was to invoke the Emergency Act. They said it was a crucial decision to restore order to society. When I talked to my uncle about the Conservatives' decision, he said it's all political to get more votes. If they were in power, they would have done the same thing, even more fierce than the Liberals. Well, if they were hoping for more votes, then the plan has surely backfired. More taxes are guaranteed in the future.
I have the next two days to make my decision on whether or not to go on binged buying. I keep your words to heart, that it's the fundamentals that I should be focusing on more. Mr. Experienced mentioned in one of his posts that with oil price at historic levels, the government will allow for more permits and drillings on public land. That prediction seems to be coming to a reality. How long do you think before serious supply is added to the market?
https://ca.news.yahoo.com/biden-administration-opens-public-lands-155752291.html
Enjoy your day wherever you are!