Capital gains tax hike creating changes in tax harvesting, buying opportunities in these stocks, says Scotia strategists [Globe and Mail, The (Toronto, Canada)]
Nexgen Energy Ltd. Common Shares (NXE)
NASDAQ:AMEX Investor Relations:
nexgenenergy.ca/investors/presentation
Company Research
Source: Globe and Mail, The
“The June 25 deadline for the implementation of the new capital gains tax in Canada is approaching quickly. As a reminder, capital gains in excess of C$250,000 will use an inclusion rate of 67% instead of 50% when applying the marginal tax rate. High-net-worth Canadians could thus potentially generate tax savings by engaging in an early tax loss harvesting strategy ahead of the deadline ... However, Canadian YTD stock winners (YTD to May) have generated unusual losses in June. Meanwhile, YTD losers are also suffering more than the benchmark. In our view, selling pressure on both winners (capital gains) and losers (capital losses) could be interpreted as tax loss harvesting to lock in, and limit, any net taxable gains at the 50% inclusion level while resetting the cost basis of the investment ... Proceeds from tax loss harvesting need to be reinvested, often in correlated names/ETFs … Our previous work on the subject highlighted that names which see tax loss harvesting in December typ
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News
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- Paladin's Uranium Deal Signals M&A Push for Rich Canadian Deposits [BNN Bloomberg (Canada)]BNN Bloomberg
NXE
Sec Filings
- 6/24/24 - Form 6-K
- 6/18/24 - Form 6-K
- 6/18/24 - Form 6-K
- NXE's page on the SEC website