NYX GAMING GROUP LTD 11 PCT DEBS V.NYX.DB

TFSA switcharoo

[JaretFF]

Many investors that have non-registered accounts with advisors don't know to voluntarily report their capital gains and losses and the institutions don't go out of their way to inform them they need to. Many insitutions only send tax statements for interest and dividiend income but not capital gains and losses. People just use those tax statements and don't read their Dec 31st statement to find the gains and losses to report or think to give their dec 31 statements to their accountants. The government can't track this and the institutions have no obligation to report directly to the government so it is our responisbility as investors to report it with or without advisors.

Tax Loss and the 30 day rule is most likely tracked in the instuitutions software per account but doesn't track buys and sells across accounts. So, selling now will give you a loss in your non-reg. account for 2016 if the advisor back dates it or 2017 if not and then you can buy it back at the same time or soon after in your TFSA and have Tax Free growth on the coming huge recovery. The 30 day rule is not tracked and it will be your responsibility to not report those losses as losses because of the 30 day rule plus the rule that says you can't use the loss if the investment is going to a tax free environment.

Seems like a bunch of account switching is happening as I know I am doing it, selling in Non-reg. to buy in wife's TFSA as you can gift money to your spouse for investing in a TFSA and there is no attribution rule. 

So I can't use the tax loss along with other losses and just need to tell the government that when I file.

Woohoo $11,000 more TFSA Jan. 3rd for Tax free growth on NYX!!!!!!!! One great thing about the low SP right now I guess