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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Message: NOT tranfers to TFSA

When you transfer from your unregistered account to the TFSA account, regardless of whether you sold the stock or not, a deemed disposition has occurred. You have to settle the gain or loss using the most favaourable closing price on the day of the transaction. You likely had a gain with NOT, so for an example if you paid adollar for your shares months ago, and transferred them to your TFSA yesterday at say $2.00, a gain is made of one dollar per share. If your total gain equals say, $1000, then you pay tax on this gain, assuming you have no loss carry forwards from current or previous years. Basically the opposite occurs with a loss.

You may want to ask your accoountant this question again as it appears incorrect.

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