An Investments Newsletter I receive contained the following statement that astounded me.
"... that the gold ETF is taxed as a collectible – that is, at twice the capital gains rate of a regular equity holding (28% vs. 15%)."
Is this guy smokin dope or what? For one thing I am aware of at least two Gold ETFs. Thing is my Dad trades in one of them and unless my tax software is doing it automatically with no help from me, he's paying normal capital gains rates on his sales. Or is the guy talking about taxes at the Fund Level? They would of course be included in the fees an investor pays but have no bearing on the investor's capital gains tax.
"... that the gold ETF is taxed as a collectible – that is, at twice the capital gains rate of a regular equity holding (28% vs. 15%)."
Is this guy smokin dope or what? For one thing I am aware of at least two Gold ETFs. Thing is my Dad trades in one of them and unless my tax software is doing it automatically with no help from me, he's paying normal capital gains rates on his sales. Or is the guy talking about taxes at the Fund Level? They would of course be included in the fees an investor pays but have no bearing on the investor's capital gains tax.
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