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
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    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
    1,356
    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).

  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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