Bullboard - Stock Discussion Forum Veren Inc T.VRN

Alternate Symbol(s): VRN

Energy Oil & Gas E&P

Veren Inc. is a Canada-based oil producer with assets in central Alberta and southeast and southwest Saskatchewan. The principal activities of the Company are acquiring, developing and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly owned subsidiaries. Its core operational areas include Kaybob Duvernay and Alberta... see more

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Veren Inc > Usa corporate taxes to go up to 28%

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Post by soundandfury on Mar 31, 2021 9:13am

Usa corporate taxes to go up to 28%

From 21% ..............this is a 30% increase if the proposed bill passes........this no doubt will open the door for #justin trudeau govt ........to increase taxes on canadian business by 50%.........it has begun

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Comment by Moemoney42 on Mar 31, 2021 9:46am

Absolutely S&F... and we're getting our clown report this month.. I have a question for the many here who have gains in the markets.. just a general small personal survey if you will.. How many of you good folks will sell your gainers if and when the cap. gains tax gets increased to 66 or even 75%... god forbid the talk of taxing the primary residence..!!! I will be selling all my gainers ...more

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Comment by ol_griz on Mar 31, 2021 9:51am

I would think this is a certainty for almost anyone managing their own money. I'll add that I plan to sell equivalent dollar losers to offset the capital gains and maximize new gains.

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Comment by arizonabound on Mar 31, 2021 10:28am

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Comment by Moemoney42 on Mar 31, 2021 10:48am

Oh yes that's exactly what I'm doing with my TFSA but still have 2/3 of my investments outside it as the yearly max wasn't enough for my entire portfolio.. still believe there will be a pull back if and when its announced.. so I'll probably sell the TFSA as well just to capture the gains.. a BPultra strategy if you will.. ;-)

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Comment by arizonabound on Mar 31, 2021 10:59am

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Comment by Moemoney42 on Mar 31, 2021 11:22am

Yes but you have to wait until the next calender year.. and I'm not sure if its on a dollar by dollar basis.. it could be applicable to the contribution limits going back in..?? I wouldn't be "pulling" money out per se if I sold my holdings due to a cap. gains tax issue so wouldn't be concerned about adding it back in.. but thats a good question I'll have to check into..& ...more

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Comment by Jonny2fingers on Mar 31, 2021 1:44pm

Next calendar year, and dollar for dollar taken out of TFSA. If you took $10,000 out in 2020 you can put $10,000 back in in 2021 PLUS $6,000 (new money) 2021 Contribution Limit.

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Comment by Moemoney42 on Mar 31, 2021 3:08pm

I haven't had an opportunity to research this yet.. so I'll ask you Jonny if you can elaborate on this thought.. Say I took out 100,000 from my TFSA.. can I put 100,000 back in next calender year..?

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