Why it's good to have NOT back at $0.58 : READ THIS

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)

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Manicpower

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Why it's good to have NOT back at $0.58 : READ THIS

posted on Nov 22, 2008 10:03AM

The Tax-Free Direct Savings Account is a brand new savings opportunity available to Canadians as of January 1, 2009. Make yearly contributions up to $5000 and all the income earned on those funds is yours to keep absolutely tax-free.

How do Tax-Free Savings Accounts work?

Making contributions

You will be able to contribute up to $5,000 per year into your Tax-Free Savings Account ( this amount may increase in the future to take inflation into account).
This $5,000 per year limit is in addition to any RRSP contribution limit you may have.
Unused contribution room will be carried forward indefinitely.
Unlike an RRSP, any money you contribute to a Tax-Free Savings Account will not be tax-deductible.

While the funds are in the Tax-Free Savings Account (TFSA)

Any income or capital gains earned in the Tax-Free Savings Account will not be taxed.
Most investments that can currently be held in an RRSP will also be allowable in a Tax-Free Savings Account. Eligible investments may include certain savings accounts, GICs, stocks, bonds and other investment products.

Making withdrawals

You will be able to withdraw funds at any time, for any reason.
The withdrawal will not be subject to income tax.
The amount withdrawn from a Tax Free Savings Account can be put back at a later date, without reducing your contribution room.

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So I'm openning one TFSA for me and one for my wife. We're gonna transfer shares of NOT for a $5000 value each. Example : $5,000 of NOT at $0.50 is 10,000 shares. When NOT will go back to $5, that's gonna make : $50,000. That's a capital gain of $45,000 TAX-FREE that you can withdraw anytime you want to by a house or whatever you like. So the TFSA (CELI in french) is a powerfull tool to make money if your lucky enough and have the guts to invest in a big share price potential gain company. And by the way, I'm seeing NOT been a multiple of $10 so can you imagine the amount of money we're gonna save because of this great tool. THANK YOU M. FLAHERTY !

I was pissed like all of you that our NOT are not at $5 like it use to be and when the Canadian goverment annonced the TFSA for the beginning of 2009, I didn't saw the potential then (my NOT share were above $5) but now with NOT at $0.58/share, I'm really hoping the share price will stay low till january so I can transfert my NOT shares in my TFSA.