Opening new Margin Account - Joint or Individual
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Thread: Opening new Margin Account - Joint or Individual

  1. #1
    Member
    Join Date
    Sep 2010
    Posts
    65

    Question Opening new Margin Account - Joint or Individual

    Hey all,

    I'm about to open a new account to be utilized for trading. Are there any advantages to classifying it as joint vs individual specifically come tax time?

    Regards


  2. #2
    Senior Member
    Join Date
    Mar 2012
    Posts
    2,088
    There are if you make money, as you can income split. That being said, you are talking a margin account which means you are also opening the other person to the liability...margin accounts are a good, fast way to lose your shirt if you don't know what you are doing. I'd be sure you explain the implications to your partner.
    I'm not JustAGuy (without spaces), or Donald, or <insert name here>.

  3. #3
    Member
    Join Date
    Sep 2010
    Posts
    65
    Thanks for the quick reply. Yes the main idea, without digging deep into the CRA website, was to find out if I could income split earnings made on capital gains from day/swing trading. Don't worry she's well aware of the implications but good point!


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