Laurion Mineral Exploration Inc. V.LME

better sell this year... new Capital Gains tax increases!

[Wmaver]

looks like even more push to sell this year!

If people thought the "SMALL" changes made last, year to how to calculate the tax, would affect it, increasing from 50% to 66% over 250,000 would make a big difference in millions!

[Wmaver]

Looks like the Proposed changes could come into affect June 25th!  so Maybe a May sale would be all good now!

[Jimo82]

The changes come into effect on June 25th 2024, so any capital gains over $250,000 would be subject to the new 67% tax which is ludicrous that the Gov is taking away any advantage from smart investors. What's also interesting is that only 40,000 Canadians or (0.13%) will be affected by this Tax and earn over $1.4 Million per year. That's how weak our Country has become.  As far as

[GoldenBull999]

Canada is a dumpster fire now. Embarrassing. Don't hold your breath for a sale anytime soon.  I'm sure we're still months and months away.  prove us wrong, Cynthia 

[GoldBelt]

I don't know how accurate this is but here's a thread showing what Canadians will be paying on capital gains in each province.  Does this tax change alter any deal LME is reviewing? Closing date prior to this tax change or delay until there is  potentially a different party  is in power after the election to repeal this tax ? For every $10m in capital gains it's going

[Toddsquad]

Toptaxexpert on Reddit (aka MATLAS) https://www.reddit.com/r/WSSjuniormining/s/ju8LaTFqa6

[GoldenBull999]

whats the over/under on this thing trasacting before June 25th?  thats a hellllluva lotta extra shekels to cough up to the government for those with tons of shares

[littledude28]

I don't believe a deal happens until next year. Cynthia is known not to waste a dollar.  I don't believe a deal gets done without an MRE. GBR was an anomoly and Kinross ended up overpaying. MRE's can be very expensinve especially when their's a lot of data. I don't think Cynthia will produce an MRE until she has all her eggs in a basket, this include the Fall drill

[Wmaver]

lol you think 4000 M of drilling in a brand new property will do anything for an MRE.... that is a little funny....  it was said they would need 20-50,000 meters more for a half way decent MRE.... If that is what you are thinking,  it will be 2 or 3 more years.

[littledude28]

what's funny is that its been 3 years already since we all thought this BO would happen, it could very well be another 2-3 years, but my guess is next spring 

[GoldenBull999]

If it truly is another couple years were looking at a bunch more PPs to continue drilling at a snails pace to get an MRE done, so everyone will get diluted on top of the additional stress of capital gains increases as well as the sp not sycnhing up with increases in inflation. I have a very hard time believing that the management will continue to remain at the helm if something does not give here

[JoJoHairBlo]

Did Kinross over-pay though? After their first MRE, Kinross stated that there is 5M GEO's inferred & indicated.  They had to already have an idea that this was going to be the amount after looking through the GBR data. $1.8B @ 5M GEO's  = $360 CAD or ~$250 USD/GEO

[Stepinup]

This years drilling program is not big enough to satisfy an MRE. They sell without one, or we wait for years of more holes and results.   

[keen2know]

Absolutely agree. Too many people rely on Cynthia being great. Actions are what we need and there aren't enough.  i hope I am wrong 

[joar8888]

At this  point if Canadian, one should transfer as much as possible to their TSFA ( tax free savings trading account) No limit on the balance  YET!!!

[Lambosntendies]

There is a limit, while you may be able to contribute as much as you want there are penalites associated with doing so.  From the governments website:  "At any time in the year, if you contribute more than your available TFSA contribution room you will have to pay a tax equal to 1% of the highest excess TFSA amount in the month, for each month that the excess

[Wmaver]

also if you make a lot of money...... they will invesitagte you....  hopefully you are all prepaired to answer some questions! one guy had to pay i think 250,000$ or something becuase he was using his TFSA as a trading account.  i know none of us are.... but they will still ask why your TFSA hit 10x its balance in a few years.

[Jimo82]

If you don't have your shares in your TFSA or your spouses TFSA you can transfer the shares over. I'd look to max out your TFSA first and limit exposure to your margin or cash account.  Also, the one time lifetime capital gains exemption is $1,016,836 in Canada as of now. If you haven't used it you can claim it for any future gain. You can also pull back 3 years of any capital

[VancouverLad]

Dang, thanks for the good info! I didn't realize I could transfer shares from my margin to my TFSA.

[Sheerms]

What are the qualifications for the lifetime capital gains exemption though? I thought stocks didnt qualify.

[Jimo82]

Any Captial Gain earned over $250,000 would qualify for the one time lifetime exemption. 

[Jimo82]

Should clarify this applies to how you own the shares (Hold Co) and not to your personal Cash / Margin account. Your TFSA or Family trust is different. 

[GoldBelt]

The CRA will more likely audit you if you're day trading using your TFSA account especially if it's your sole source of income.  A windfall jackpot if LME deals is for multiples of the present price won't set off alarm bells especially since most of us are bag holders for over 3 years.  Any high volume stock purchase from a new investor into LME right before an

[joar8888]

Clearification on limit. I meant there is no limit on the profit you make being taxed,  if you stay with in your TSFA annual savings deposits.