Diamonds North Resources Ltd V.DDN

Something To Consider

[CherryCoke]

If anyone has purchased either DDN or UNR " inside their RRSP " for more than the current price of
. 05 and expect the price to jump above what they purchased it for, it may be advantagous to transfer the shares "in-kind" to a Tax Free Savings Account.  For example if you bought 50,000 shares at
.35 inside your RRSP it cost you $17,500  If you now transfer them into a TFSA value of the 50,000 shares at
.05 is $2500. You have them freed up and you only have to pay the 10% tax or $250 + $25 admin fee and the shares are free and clear. If the price happens to jump to $1. all that money is now tax free. Food for thought.

Cheers

CherryCoke

[beenthere]

what?? i am not even going to waste my time on that one! how can someone say so many things wrong in one paragraph!!! because it doesn't take any effort... for starters...and expect the price to jump.... lol

[CherryCoke]

I didn't ask you to waste your time. Apparently you are not familiar with RRSP's and Canadian tax laws.  If you could comprehend that, it may be of value to you. I'm quite sure others may look at it differently. Cheers CherryCoke    

[funway4106]

Yes Cherry coke your exactly right I did that with CPY and BSX transferred into TFSA capital gain was tax free sweet.That is where I play all penny stocks.The only downside is no capital loss to declare,but that's okay I don't buy stocks to lose hopefully.This is an excellent strategy I wonder when the Feds put a stop to it. Regards Funway