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Message: Re: Selling for tax purposes/Koala
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Dec 15, 2009 06:35PM

30 Day Waiting period in Canada to repurchase the same stock!

Losses lessen taxes

Lori Pinkowski, Special To North Shore News

Published: Sunday, November 29, 2009

When it comes to buying and selling stocks, most investors are told to buy low and sell high.

But there is a time to sell low if you want to reduce your overall tax bill to the government. This strategy is called tax loss selling.

Tax loss selling is used to offset capital gains from various sources. A capital gain can be derived from stocks, mutual funds or even real estate. Capital gains for stocks or mutual funds are only applied to investment accounts that are non-registered (can't be a RRSP or RRIF).

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