HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

Free
Message: OT - TFSA
Reply New Message
Prev Message Back To Forum Threaded View Next Message

OK, follow closely and tell me if I'm correct.

So, if I put $50,000 worth of NOT in my TFSA, (approx 20,000 shares) even though I've already contributed my $5000 for the year and NOT goes to say $20.00, giving me $400,000 ($350,000) profit on the overcontribution in 12 months I will pay $6000 (1% or $500 per month on the overcontribution x 12 months) instead of roughly $75,000 (43% of 50%) in taxes?

Or more likely, I contribute said 20,000 shares ($50,000) and NOT doubles to $5.oo in one month. I then withdraw the $100,000 ($50,000 profit) and pay $500 instead of $10,000 in taxes?

But the catch is I don't have $50,000 hanging around and if I were to transfer shares from my investment account I would have to pay capital gains on that transaction. So is it worth it then?

Confusing, I know.

Reply New Message
Prev Message Back To Forum Threaded View Next Message
Share
Share
New Message
Please login to post a reply