Posted by: darren bird ®
05/23/2005, 00:31:18
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To answer your question on Capital gains. The answer is no. You pay tax on your capital gains whether you re-invest them or not. Capital gains are taxed at a much lower rate than other kinds of income, but you do still pay tax on them in the year they are realised. If I were you, I would be careful how much tax and investment advice you take from Rich Dad Poor Dad. Overall its a good book to get you thinking in different entrepreneurial directions, but the investment and tax advice misleading to Canadians who read it. Our laws are different. (P.S. I don’t want to turn this into a debate about rich dad poor dad!) I also know that Doug has a read a lot of different courses and could probably point out a few good ones.
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