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: Just spoke to CRA - re.- new ACB after TFSA Transfer
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Just spoke to CRA - re.- new ACB after TFSA Transfer

posted on Mar 09, 2010 10:03AM

I'm not sure how many of you calculate or even have the need to calculate your average cost base (ACB) per trade, but if you do and didn't know how TFSA transfers affects it, please read on.

If say, you transfer 5000 NOT shares at $1.50, you must then reduce your total share cost (that you use for the ACB) by the amount of the transfer (5000 X $1.50 = $7500).

So if your total cost for ACB purposes was $20,000, it then becomes $12,500 and you will then of course have a new ACB for the shares outside of your TFSA. You should also do an ACB for the shares inside your TFSA, should you do any trading, even though they are not taxable.

Hope that helps and sorry to raIn on our happy day with CRA stuff.

strato-tax

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