Don't forget as Canadians when we buy a stock on a
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Posted On: 06/08/2017 12:52:22 PM
Don't forget as Canadians when we buy a stock on a U.S. exchange we get nailed with the currency exchange difference which can run 30-40%.
So that is painful, however the upside is that when we convert back into Canadian dollars we get most of it back which more often than not covers taxes.
We pay no tax on the first 50% profit and 50% tax on the second 50% of profit.
So it's 25%.
Currency exhange is about 35% right now.
So that is painful, however the upside is that when we convert back into Canadian dollars we get most of it back which more often than not covers taxes.
We pay no tax on the first 50% profit and 50% tax on the second 50% of profit.
So it's 25%.
Currency exhange is about 35% right now.
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