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WISR Ord Shs V.WZR


Primary Symbol: WSRLF

Financial Services Credit Services
Wisr Limited is an Australia-based neo-lender company. The Company provides a collection of financial products and services. The Company is engaged in writing personal loans and secured vehicle loans for three, five and seven-year maturities to Australian consumers, and funding these loans through the warehouse funding structures. It provides a Financial Wellness Platform underpinned by consumer finance products, the Wisr App. The Wisr App helps Australians pay down debt, multiple credit score comparison services and Australia’s first money-coaching app Wisr Today. Combined with content and other products that use technology to provide better outcomes for borrowers, investors, and everyday Australians. The Company’s products include loans, credit scores and round up. Its credit score is a summary of financial habits, and helps lenders get to know its customers. Its loan products include debt consolidation loans, car loans, medical loans and others.


OTCPK:WSRLF - Post by User

WISR Ord Shs
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Post by john_galton Dec 05, 2012 10:06pm
511 Views
Post# 20690179

RE: Re: Relax Folks

RE: Re: Relax Folks

Hi Coach,


I would be careful with your loss harvest strategy.  If by "shifting" shares from your wife's account (thereby creating a loss), you mean "sell in your wife's account and buy back in your own account"... this would be deemed a superficial loss by CRA.  As I understand it, a related account would include any taxable or non-taxable account under your name, your spouse's name, or a corporate account that you have control over.

 

The only way of capturing the loss would be to sell the position in question, immediately repurchase a proxy holding (something with the same investment characteristics), and then you can repurchase the 'original' shares in 30 days.

 

Anyhow, I am not jumping down your throat... perhaps I don't understand the premise of the trade you are describing, but superficial loss rules are pretty straight forward.


Best,


JG

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