RE:RE:Hilarious
Globe says National's Straus offers tax-loss strategies
2024-11-26 04:39 ET - In the News
See In the News (C-NA) National Bank of Canada
The Globe and Mail reports in its Tuesday edition that investors need to be mindful of the Canada Revenue Agency's superficial loss rule that prohibits repurchasing a security, such as a stock or fund, within 30 days following a tax-loss sale. The Globe's Shirley Won writes that this rule, which applies to affiliated people such as a spouse, also precludes buying the same security 30 days before the sale. That effectively becomes a 61-day period of not owning the stock or fund. However, investors can still buy non-identical securities, such as a different stock or exchange traded fund, in the same industry sector during that period. National Bank of Canada Financial Markets managing director of ETFs and financial products research Daniel Straus says buying an ETF that holds a stock sold for tax-loss purposes reduces fear of missing out on a bounce-back in the next 30 days. Mr. Straus recently released a report on tax-loss strategies using Canadian-listed ETFs. The report notes that BCE and Rogers Communications are down sharply, but investors could get similar exposure through Global X Equal Weight Canadian Telecommunications Index ETF. BCE's weighting in the ETF is 31 per cent and Rogers's is 33.6 per cent.
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https://www.stockwatch.com/News/Item/Z-C!BCE-3625022/C/BCE