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moneysense.ca, 13/11/06
This and That
- The Toronto Star suggests some steps that parents can take to teach good money management skills to their kids.
- Globe and Mail columnist Rob Carrick introduces the 2006 Canadian Dividend All-Star team. It is not very clear how the list was selected but it appears stocks with the highest dividend increases over the past five years from various sectors made the cut. Unfortunately, the entire list is not available online.
- With Christmas fast approaching, this column offers timely ideas for keeping holiday spending under control.
- Finance Minister Jim Flaherty said today that cutting capital gains tax “is not easy to do”. If you recall, the Tories made a rash promise to eliminate capital gains tax if profits are reinvested within six months.
moneysense.ca, 13/11/06
I would personally like to see the elimination of capital gains tax on funds that are re-invested. However, I think this is a huge can of worms for the government. How do you keep track of this? If I buy stock A at $10 then sell it at $20 and invest in stock B at $20 and sell stock B at $25 but don’t re-invest that what is my capital gain? $15 or $5? Also, once you do this doesn’t that make RSPs less attractive ( a RSP would still make sense for things that generate 100% income like non-Canadian dividend paying stocks and bonds/GICs and things like that).
There was some speculation that the capital gains plan would be implemented through some sort of lifetime exemption, say $500K. Of course, we would then start the RRSP or Not debate all over again.
The link to Rob Carrick’s article is:
https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20061111/STMAIN11
I found it from the Stingy Investor’s website (http://www.ndir.com/) in the headlines for 11/11.
Thanks for the link TZ.
Relating to a past thread, I went to use up my remaining Aeroplan points on a hotel room. Of course, just as with their flights, there were no hotel rooms available within 25 miles of my destination (even though I am booking 3 months in advance), except one which would have required twice as many points as I had. Anyways, I managed to use my remaining points on an overpriced (in points) rental car and I’m rather relieved that I’m now able to put my frustating days of dealing with Aeroplan behind me!!!