Replies to post #8932 on Aurora Cannabis Inc (ACB)

[crabclamjohn]

MX you should check with your CPA...I think you are correct except you do pay tax on realized profits when you take them out. IMO

[Aquahoya]

Correct. But I am not contributing money into the account. I am diversifying the Roth portfolio in stock of my choosing. So I wouldn't have to pay taxes on that. It's like acquiring yearly interest that you financial adviser or company sets for you.

If I was contributing, like you say, I definitely would have to pay taxes on that.

Looks like ACBFF is going to have a nice day today. With anticipation of the deal, could see some nice opening. Although coming to an agreement seems like it is slipping away.

[VancouverRisk]

I know this is a Canadian investment tool, but have you guys heard of our TFSAs? I personally love them - so much better than an RRSP (Registered Retirement Savings Plan) which is our pre-tax retirement investment plan. In a TFSA (Tax Free Savings Account) all contributions are after tax. The yearly amount allotment is cumulative, so if you didn't contribute last year, it's carried forward. Also, you can withdraw at any time, and that amount is never taxed and that amount is added back to your contribution room the following year.

This is all fantastic, but the best part is that there are NO capital gains taxes, NO taxes on investments of any sorts in this style of account. So I invest for growth in it without the worry of penalties. Not sure how that compares to a ROTH, but it's an amazing investment tool for Canadians willing to invest in the market who are looking for capital gains!