how to use a canoe?

Answer 1

While tax planning is a year-round process, year-end is often the time investors realize any capital losses so as to offset capital gains and thereby reduce their capital gains tax.

As registered accounts are tax-sheltered vehicles, losses cannot be used to offset gains and capital gains need not be reported either. Harvesting losses in your taxable, unregistered account, however, is an effective tax planning strategy, and allows you to take advantage of market downturns that create losses to be used to offset other capital gains.

Consider realizing losses by selling the losing securities, especially if there will be a net loss that can be carried back to reduce taxable capital gains paid in the prior three years. Losses not carried back can also be carried forward indefinitely and thus can be used to offset future years' capital gains.

It's important to know that a capital loss must first be applied against any capital gains (including capital gains distributions from mutual funds) of the current year. However, once these capital gains have been used, the balance of the loss can be either carried forward or back. If losses are carried back, there is a CRA form T1A "request for loss carryback" that is used to apply the loss and designate the year(s).

Beware of the superficial loss rule that requires you to wait at least 30 days before repurchasing the same property if you want to be able to claim the capital loss.

Also, a loss on the disposition of property will be deemed superficial if during the period that begins 30 days before and ends 30 days after disposition, the tax payer or their spouse (or common-law partner) acquires the same property.

A superficial loss is denied and cannot be claimed. Due to recent tax changes, this rule also applies to selling property held in an unregistered account and reacquiring the same property inside an RRSP or RRIF. Best to seek the advice of a tax professional to get appropriate guidance and prevent grief.

Bev Moir is a Senior Investment Executive and financial planner with The Moir Team at ScotiaMcLeod,Toronto. ScotiaMcLeod is a division of Scotia Capital Inc., a member of the Scotiabank Group. Member Canadian Investor Protection Fund (CIPF). Visit her website at www.bevmoir.com. To have a question considered for use, write to [e-mail].

This article is for information purposes only. It is recommended that individuals consult with a financial or tax advisor before acting on any information contained in this article. The opinions stated are not necessarily those of Scotia Capital or The Bank of Nova Scotia.

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Answer 2

A good way to start canoeing is by taking a short "QuickStart Canoeing" class, that is often offered by local parks and recreation departments. It should contain a brief introduction to paddling a canoe or kayak. Students should be presented with basic information on dressing, to paddle safely, to potential hazards, as well as simple rescues. A minimal paddle skill set is presented and practiced, allowing students to safely and comfortably maneuver on still water.

Here's the information about a quickstart canoe program:
http://www.americancanoe.org/PDF/SmartStart.pdf

Here's information about canoe paddling basics:
http://www.americancanoe.org/recreation/paddling-basics.lasso

Here's a link to a web site where you look for canoe instruction classes in your area:
http://www.americancanoe.org/Calendars/basic.lasso

Now you can rent a canoe, paddle and life jacket (pfd) and will be able to safely paddle a canoe. Without instructions, canoes are built to move in circles, and you would get very frustrated.

If you enjoy the course, and canoeing on your own, next it would be a good idea to take an introductory course, in Canoeing, to acquire greater paddling skill through significantly increased guided, on-water practice time.

Here's more information about canoeing instruction:
http://www.americancanoe.org/PDF/RC_NewcomerOvervw.pdf

Have fun and be safe!

Answer 3

This is pretty wide-open. Do you mean how do you paddle a canoe? THere are some pretty good web sites out there that would describe the J-stroke, which I think is the most common paddle stroke. You can use a canoe to do just about anything on water you want. www.rei.com often has some good gear tips for canoes and accessories.

Answer 4

Sing Row Row Row your boat gently down the stream. lol