I'll tell you why I'm excited out of my mind to ge
Post# of 15624
(Total Views: 458)
Posted On: 10/24/2017 6:17:25 PM
I'll tell you why I'm excited out of my mind to get the uplisting - TFSA's. The canadian tax-free-savings-account does not allow investing in the OTC market, but if they uplist to the TSX venture, I can move all my shares over into my TFSA account, and let's say our hope of multiple dollars becomes a reality, 2 things will happen:
1) I don't pay a single penny in capital taxes, that's right, not a single penny, and think of what this means if the pps is $7....hundreds of thousands of dollars in taxes that I don't pay,
and 2) if I sell all my shares at $7 (hypothetically), whatever $ amount my account grew to, will become my new contribution limit in my TFSA account. So let's say I withdraw 1 million dollars, now I will be able to continue contributing 1 million dollars into this account and still pay 0% tax. As of right now, the max a person can contribute is about 55K (grows by 5.5K a year)
This is why my mouth waters and my heart thumps whenever I think of uplisting. Between me and my wife, we have a maximum of 110K contribution limit, that's why I hope the pps doesn't go past 70 cents before they uplist, since then we will be out of contribution room.
I personally don't think uplisting will do much for the pps itself, and if it does, it'll probably be minor (although I have no clue either way), but as a personal benefit, this will be huge
1) I don't pay a single penny in capital taxes, that's right, not a single penny, and think of what this means if the pps is $7....hundreds of thousands of dollars in taxes that I don't pay,
and 2) if I sell all my shares at $7 (hypothetically), whatever $ amount my account grew to, will become my new contribution limit in my TFSA account. So let's say I withdraw 1 million dollars, now I will be able to continue contributing 1 million dollars into this account and still pay 0% tax. As of right now, the max a person can contribute is about 55K (grows by 5.5K a year)
This is why my mouth waters and my heart thumps whenever I think of uplisting. Between me and my wife, we have a maximum of 110K contribution limit, that's why I hope the pps doesn't go past 70 cents before they uplist, since then we will be out of contribution room.
I personally don't think uplisting will do much for the pps itself, and if it does, it'll probably be minor (although I have no clue either way), but as a personal benefit, this will be huge
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