A couple of interesting tax proposals for investors
As a household that hasn't received dime one of all the various Covid "programs" out there, these proposals are of interest having taken a hit in the ol' portfolio.[…]To further assist investors in a time of economic downturn, two proposals have been floated in recent weeks. The first would allow Canadians to tap into their RRSPs, tax free, to help meet current cashflow needs and the second would permit investors who may have experienced capital losses in their non-registered investment portfolios to more easily crystallize those losses and apply them against all sources of income. […]
I'm not interested in crystallizing losses to re-purchase in our RSPs (don't have any RSP room anyway) but would be interested in both the RSP withdrawals without withholding as well as application of capital losses against "regular" income. Hope Trudeau and Morneau have enough sense to enact some/part/all of these proposals.