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Western Forest Products Inc T.WEF

Alternate Symbol(s):  WFSTF

Western Forest Products Inc. is an integrated softwood forest products company. The Company’s primary business is the sale of lumber and logs, which includes timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing and wholesaling purchased lumber. Its product categories include Outdoor Living, Exterior Appearance, Interior Living, LIFESTYLE CEDAR, WFP Engineered Products and others. The Outdoor Living products include decking, timbers, outdoor structures and fencing products. The Exterior Appearance products include siding, trim and fascia, soffits, and door and window products. The LIFESTYLE CEDAR products include LIFESTYLE CEDAR Decking and LIFESTYLE CEDAR Fencing. The Interior Living products include interior paneling, interior moldings, architectural millwork, and stair components. The WFP Engineered Products include Curved and Arched Glulam, Straight Glulam, Fabricated Trusses, Calvert GL3000 and Other Glulam Products.


TSX:WEF - Post by User

Bullboard Posts
Comment by Canoutchieon Mar 18, 2014 9:58pm
182 Views
Post# 22338866

RE:Off Topic

RE:Off Topic@jimmied.  Richajer is right.  You can sell your stock and transfer it to a TFSA, or RRSP, but Revenue Canada (CRA) will NOT allow you to claim a capital loss on this transfer....  that is unless you wait 30 days to transfer into the tax-sheltered account.

In other words, CRA will disallow the loss.  (The rationale being that you are transferring the shares into a tax-sheltered account, soley to trigger a capital loss, BUT the corresponding upside is then taxfree, which CRA does not allow).

If you want to trigger the capital loss, but don't want to miss upside, (i.e. you want to buy something immediately after liquidating your WEF-T shares), then your options are either to buy a Forestry Sector related ETF, or perhaps just buy another security like International Forest  (IFP.A) or other lumber-related stock.

NOTE:
Conversely, if you are sitting on a gain with your WEF-T stock, and want to make a transfer to your TFSA or RRSP, you can talk to a broker/direct investing agent, and ask them to make a "transfer in kind".  They will transfer the stock into a registered account at the current bid price; but any capital gain that has accrued to date will be subject to capital gains tax.  (Any subsequent gains after the transfer into the tax-sheltered account will be tax-free).

The ""transfer in kind" option works well if you have a thinly traded stock which you want to transfer to a tax-sheltered account, but you don't want to have to incur the differential loss from having to sell at a lower bid price, and then subsequently buy back in the sheltered account at a higher ask price.

Hope this helps answer your question.


Bullboard Posts