Re: Federal Budget: Possible Elimination of Capital Gains Tax...
in response to
by
posted on
Mar 19, 2011 06:45PM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
Hi there, BOW2U... Have you figured out which end of your stick the puck is on...
I think that if you had a capital gain from say in our case SLI, then whenever you decide to take that gain as a profit and not re-invested it into something else that would be considered an eligible investment, then you get hit with declaring it as other income and paying the full tax on it...
Lets say I keeping buying and selling stocks over the rest of my lifetime. When I die, I am up say 1 million bucks, based on the new critera. When my estate fills out my last Income Tax form, my total gain of 1 million bucks is recorded as income for that year and taxes will be paid based on that amount. At the end of the day, there really is not a tax exemption involved, just a delay of taxes owing. Just my opinion...
Kherson