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Message: Re: MacMillan Minerals

Dec 09, 2008 12:41PM

Dec 10, 2008 04:08AM

Dec 11, 2008 02:33AM

Dec 11, 2008 03:03AM

MichtechGuy,

That would indeed suck!

However, you can make mitigate your frustrations. I have taken out all my MacMillan Minerals (MMM) shares from my RRSP. My broker charged a $35 transaction fee. I will put it into my TFSA in January, and it should have little or no effect on my $5000 maximum yearly contribution, as the shares have no value. Actually, what my broker did was value the shares at $0.001 per share, as you need a value to do a transfer, and then credited me back the amount.

Now, the shares I have in MMM will be able to grow tax-free and be withdrawn tax-free. Hopefully, they won't value the shares later on in the year and then retro value it in the TFSA!

It's sort of the same thing with DRV. At such a low SP, it will enable us to put more DRV shares into the TFSA, thus maximizing our future tax-free amount.

The only thing to keep in mind is capital losses. I'm not sure if putting shares in a TFSA will allow a capital loss to be written off from income tax. That's something that should be looked into.

Trainboy


Dec 11, 2008 04:13AM

Dec 11, 2008 04:47AM
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