Stocks and Trading Thread - Channeling your inner Mono

[Admiral Yi]

https://www.youtube.com/watch?v=0VUql_xILpI

Dude reads what he claims is the very first WSB Gamestop post.

[Tamas]

GME 49.85 after hours.  You were a day off Tamas.

And the CFD broker just wrote they can give me my loss from the glitch back but that's it.  Bloody morons I would have been up almost 200 pounds.

Well, there goes their future income from my reckless gambling.

[Josquius]

CFDs...all I know of them is stay away.

And OK, this one is funny.


Seems the whole thing has been very good for gamestop though. They've gone on quite a recruitment drive.

[Tamas]

CFDs...all I know of them is stay away.

In general yes, but in Europe they are your only practical way to short a US stock unless you can meet the requirements with the couple of brokerages offering US options.

[Admiral Yi]

Very weird.  I'm looking to cut my losses on my GME put that I paid 210 for.  The bid on the 36 put is 62 cents, the bid on the 34 put is 46 cents.

And the bid on the 35 put is five cents.

[Josquius]

Seems to be a big rally on for gamestop... And trading halted on it.

[viper37]

If I buy stocks from a Swedish company listed in the Stockholm stock exchange, do I have to pay capital gains taxes over there, if and when I sell them at profit or is the capital gain realized in Canada, my country of residence?

[Admiral Yi]

Not Spotify?  I know that is listed on the NYSE.

[Tonitrus]

I bought a Canadian stock once (Shaw Communications), and got hit with some Canadian tax...I didn't want to deal with that noise, so I dumped the stock shortly after for a small profit. 

[Admiral Yi]

Tesla announces purchase of $1.5 billion in bitcoin.  Questions whether he was manipulating the price in his tweets.  Tesla shares up.

[Valmy]

I bought a Canadian stock once (Shaw Communications), and got hit with some Canadian tax...I didn't want to deal with that noise, so I dumped the stock shortly after for a small profit. 

How does that work? Did you buy it on a Canadian exchange or something?

[Admiral Yi]

Etrade used to allow trading on a number of foreign exchanges (Toronto, London, Tokyo, Hong Kong, and Germany are the ones I remember) but they discontinued it.

[Tamas]

My Dutch stock brokers let me buy shares almost everywhere altough not everything. Options and shorting only on euro stuff, and different fees based on market. Oddly enough US is cheaper than Europe.

[crazy canuck]

I bought a Canadian stock once (Shaw Communications), and got hit with some Canadian tax...I didn't want to deal with that noise, so I dumped the stock shortly after for a small profit. 

There is no tax for purchasing a stock in Canada.  The tax part comes in if you sell and have a capital gain or if you get dividend income.  Shaw regularly pays dividends and so that is probably what happened - you were paying tax on your dividend income.  I don't know how the US Canada tax treaty works for US residents, but I suspect you would only have had to pay tax on that dividend on your US tax return and not in Canada.

But yeah, before investing in a foreign jurisdiction, and especially if you are a resident of a country that taxes on world wide income like the US, its a good idea to know the tax implications ahead of time.

[Tonitrus]

I bought a Canadian stock once (Shaw Communications), and got hit with some Canadian tax...I didn't want to deal with that noise, so I dumped the stock shortly after for a small profit. 

There is no tax for purchasing a stock in Canada.  The tax part comes in if you sell and have a capital gain or if you get dividend income.  Shaw regularly pays dividends and so that is probably what happened - you were paying tax on your dividend income.  I don't know how the US Canada tax treaty works for US residents, but I suspect you would only have had to pay tax on that dividend on your US tax return and not in Canada.

But yeah, before investing in a foreign jurisdiction, and especially if you are a resident of a country that taxes on world wide income like the US, its a good idea to know the tax implications ahead of time.

Yep, that was it.  I was attracted to Shaw because their dividend yield was pretty good.  As I recall, the tax was deducted automatically by my broker...it was a relatively trivial amount, and I never followed up on the legalities of it.