Comment by
TickerTwit on Aug 10, 2016 1:41pm
This applies to capital gains only. If you are engaged in an "Adventure or Concern in the Nature of Trade" (as the CRA defines it), the superficial loss does not apply. .
Comment by
TOMMY1 on Aug 10, 2016 2:17pm
Thanks TT - good to know and I will have to put this by my accountant to see if my trades are eligible. I found some archived information on the CRA website but nothing current: https://www.cra-arc.gc.ca/E/pub/tp/it459/it459-e.html Thanks again!
Comment by
TickerTwit on Aug 10, 2016 2:27pm
IT-459 is old (1980) but seems to be the most informative document the CRA offers at the moment. Some accounting firms publish additional info, such as case law examples where investors have challenged the CRA after being declared 'traders' (or conversely, wanting to be 'traders', but being declared 'investors'). Good that you have an accountant for a qualified opinion. .
Comment by
TickerTwit on Aug 10, 2016 6:24pm
This piece I did not know: "To report capital loss, you must sell ALL of your stock" Thanks for the going to the trouble! .
Comment by
LatticelnExile on Aug 10, 2016 7:01pm
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Comment by
HamSandwich on Aug 10, 2016 9:47pm
wrong wrong wrong wrong wrong