RE: RE: Flow-through financing closedYou are right but there is a way out, and legal.
I bought $3000 in OSK when they started. That gave me 11000 shares when they went to on the market. I got a tax credit for the investment. I immediately placed those shares in my RRSP and got yet another tax credit for that. Ent result is that I had 11000 shares which cost me $0.00
Of course it was a big risk at the time since the future of OSK was more than questinable.
My philosophie at the time was I can either pay $3000 in income-tax or risk that same amount in a risky business.
I would have loss the $3000 no matter what, in income-tax or if Osk did not make it
Well OSK came out to be a winner and I sold 2000 shares a little over 12$ a few years ago. Since this was done inside of my RRSP I had no capital gain to declare
Then we had the split and my remaining 9000 shares became 18000 and if all goes well this is going to be heavy gravy for me; enough to retire if it wasn't for one thing, I am alreay retired