CD's
Reverting to the topic of the thread :
The TSX is still down on Thursday's trading.
Income trusts have opened at around 0.5% to 3% LOSS.
At this time it is undecided as to which way the market will swing to wrt income trusts.
TK A
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I am a Gents and not a Ladies.
A quick question CD's..
1) How will this Income trust crash or being taxed effect us laymen? any advice..
2) which category/group is losing in this crash? I am not very clear on these income trusts..I do have some RRSP amount though...
Thanks
seenappa
Quote:
Originally posted by seenappa
A quick question CD's..
1) How will this Income trust crash or being taxed effect us laymen? any advice..
2) which category/group is losing in this crash? I am not very clear on these income trusts..I do have some RRSP amount though...
Thanks
seenappa
Quote:
Originally posted by Desi # 1
snip
3. Your year to year return will drop as you will be getting net of tax instead of Gross from income trusts.
Quote:
Originally posted by Desi # 1
Quote:
Originally posted by seenappa
A quick question CD's..
1) How will this Income trust crash or being taxed effect us laymen? any advice..
2) which category/group is losing in this crash? I am not very clear on these income trusts..I do have some RRSP amount though...
Thanks
seenappa
1. If your investments/RRSP investments are in mutual funds and it is very likely that these mutual funds consists of investment in income trusts, the value/return will drop.
2. If you have balanced stock based investment (RRSP) then some of these investments could in income trusts which means you are bound to loose.
3. Your year to year return will drop as you will be getting net of tax instead of Gross from income trusts.
Seenappa,
There are other better ways of saving. Knowing your situation i would recommend :
1. Buying a house to save on rent.
2. Investing in Canada Savings bond, ING bank schemes
3. Invest in India (Post office , PPF etc...)
Others can chip in and add their mite.
TK A
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I am a Gents and not a Ladies.
I don't get why everyone is blowing hot steam over the FM's decision to put the brakes on conversion to Income Trusts.
The big corporations are doing this to reduce their taxes, however, when big corporations like BCE does this, it hits below the belt for the Fed. govt.
Where are they going to make-up the millions and millions they are going to lose in tax revenue?
Govt. cannot re-structure the social system or social programs or cut expenses on a dime like that.
They'll probably have to make up by increasing personal income taxes and squeezing education funding, health care funding, etc.
So the price most people will end up paying for retaining their RRSP values will be higher personal income taxes and poorer social services.
My $0.02
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
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