RE: silvergoldstackers

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Thx you ,

I do mostly with what I can, but I think more and more about my retirement which is approaching year after year.
!LOLZ !HUG

silvergoldstackers
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(Edited)

Due to my poor health I am encouraged to retire earlier than I wanted to. It took some number crunching but I can have sufficient resources to make a comfortable go of it. Assuming my public pensions remain solvent past 2030??? It is one of my five streams of post employment income.

Gold, on the other hand, must be held for 22 years to be fully exempt from capital gains tax.

A graduated Capital gains ladder for gold huh? My Canadian tax laws would still levy a capital gains tax, if sold for cash. However, if I trade a gold coin for a automobile it is considered Barter or Trade so no capital gains, VAT or consumption taxes are levied. I could also borrow using my gold as collateral, it won't trigger a capital gain and I could write my interest off on the loan as a business expense.

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In France, it's a 20% capital gains tax for 5 years, then 10% from 5 to 10 years, 5% from 10 to 22 years, then nothing, at least for investment gold. Otherwise, jewelry, etc., is tax-free (VAT paid by the purchasing jeweler).

But we're guaranteed to get it back at least at the purchase price after 10 years if the price has dropped in the meantime.

You can also use it as collateral for a loan if you don't have enough (not my case !LOL ) .

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