Posted by cool_ambo on October 2nd, 2016 | Comments Off on Capital Gains and Losses
Yup! We have this item also in Canada as income tax entries.
Capital losses, particularly in business transactions,
are legitimate tax deductions.
If this amount totals to more than the amount
of your capital gains for that year,
this can entered as a tax deduction.
Moreover, you can carry this tax deduction over
to the next year as the amount deducted
is in a decreasing balances.
If you lose a billion dollars this year,
you can elect to enter as much amount in tax deduction
or you can run this deduction for several years
as long as the capital losses balances exist.
I hear that you can run this tax deduction for 18 years
for some particular person that we know.
I suppose he needed the revenue people to agree with this.
But the main this is that there is nothing wrong with not paying
your income tax if doing so is legitimate.
Now, regarding the media’s concerted effort to discredit some person we know,
maybe they should try to throw the kitchen sink at him next.
I hear that he has not used the kitchen sink for that long a time now
for washing dishes.
The important question is why the media concerned
are in a desperate program to bring him down.
Are these media afraid that he would win this election?