FOX Translator
No data currently available.
No data currently available.
These gains don't cause pain. A capital gain is the amount of money you pocket by selling one of your investments for more than you paid for it. Technically, capital gains only count for what's called a capital asset, but that's really just anything you own for investment purposes. Stocks and bonds obviously qualify, but your house and household furnishings can also count.
For tax purposes, capital gains are classified as either long-term (held for more than one year) or short-term (held for less than one year) and there are different tax implications for how long you hold onto a capital asset. For most long-term capital gains, you're taxed no more than 15% of the value of the asset. Short-term gains get taxed as regular income, so you pay the rate for the tax bracket you're in.
Capital gains can also be realized or unrealized. When you physically sell an asset like a stock, you've realized the capital gain. When you're holding the stock, and it has a value over its purchase price, but you're not selling it, you've got an unrealized gain, and you won't realize it until you sell.
In a perfect world, we'd all have capital gains. But no one¿s that smart or lucky. When the value of an asset at sale is below what you've paid for it, it's called a capital loss. The good news is that the government lets you count that loss against any gains you've had, lowering the taxes you pay. In fact, many people who sell a stock that has risen far over their purchase price tend to sell some stinkers, too, at the same time for the tax benefit. This is known as a capital-loss offset.
Home / Markets / Industries / Industrials
Tuesday, May 13, 2008
New Pacific Metals Announces the Appointment of New Chairman-The Honourable Jack Austin
Comtex
VANCOUVER, BRITISH COLUMBIA, May 13, 2008 (Marketwire via COMTEX News Network) ----New Pacific Metals Corp. ("New Pacific Metals" or the "Company") (TSX VENTURE:NUX) is pleased to announce the appointment of The Honourable Jack Austin, P.C., Q.C., B.A., LL.B., LL.M., Doc.Soc.Sci. (Hon), as its new Chairman.
Mr. Austin brings to the Company over 40 years experience in law, business, public service and politics. A graduate of the University of British Columbia in Economics and Law, and from Harvard Law School in International Trade Law, Mr. Austin has had a diversified and successful career. New Pacific Metals will benefit from Mr. Austin's counsel and expertise in cross-cultural communications and business development.
After serving as legal counsel to several senior mining companies, including Placer Dome and International Mineral Corporation, and to BC Hydro in the development of its Peace River and Columbia River power projects, Mr. Austin was President and CEO of two operating mining companies based in B.C. In May 1970, he was appointed Deputy Minister of Energy, Mines and Resources in Ottawa by Prime Minister Pierre Trudeau and served until May 1974 when he was appointed Prime Minister Trudeau's Chief of Staff. In August 1975, Mr. Austin was elevated to the Senate of Canada, representing British Columbia.
In 1981, Senator Austin was brought into the Federal Cabinet by Prime Minister Trudeau as Minister for Social Development; Minister for Expo 86; Minister for the Canada Development Investment Corporation (where he was responsible for projects such as Canadair; deHavilland; Eldorado; Nuclear; Uranium Canada; Fisheries Products; Massey Ferguson).
On the election of Prime Minister Jean Chretien in early 1993, Senator Austin became President of the Canada China Business Council, serving until 2000, and as Deputy Chairman until entering the Martin Cabinet in 2003. He organized the first Team Canada visit to Beijing in November, 1994, headed by Prime Minister Chretien and 12 of the 13 Provincial and Territorial Premiers, accompanied by over 350 business executives. Senator Austin subsequently organized Team Canada visits to Shanghai in 1996 and Beijing in 1998, and the visits of Premier Li Peng to Montreal in 1995, President Jiang Zemin to Toronto in 1997, and Premier Zhu Rongji to Toronto in 1999.
As a Minister in Prime Minister Paul Martin's government, Senator Austin accompanied Mr. Martin to China on an official visit to China in 2005 and participated in the return official visit of President Hu Jintao to Ottawa and Vancouver in September 2005.
Senator Austin also founded in 1998 the Canada China Legislative Association, which is the formal inter-parliamentary relationship between the Parliament of Canada and the National Peoples Congress of China, and served as Co-Chair until entering Prime Minister Paul Martin's Cabinet in December, 2003.
During his career, Senator Austin has served as an Adjunct Professor at the Faculty of Law at the University of British Columbia; President of the International Division of the Bank of British Columbia; President of Elite Insurance Company; President of Uranium Canada and a director of a number of public and private companies. Currently, he is an advisor to Stern Partners Inc., a private capital group based in Vancouver and holds an appointment as Honorary Professor and Senior Fellow at the Institute of Asian Research at the University of British Columbia.
The Company, subject to regulatory approval, has granted Mr. Austin 200,000 incentive stock options exercisable at today's closing price for a period of five years, subject to a vesting period of 36 months.
About New Pacific Metals Corp.
New Pacific Metals Corp. is exploring for gold-polymetallic and base metals in the provinces of Guangdong and Sichuan, China.
SOURCE: New Pacific Metals Corp.
New Pacific Metals Corp. Dr. Rui Feng President and CEO (604) 633-1368 (604) 669-9387 (FAX) Email: info@newpacificmetals.com Website: www.newpacificmetals.com
Copyright (C) 2008 Marketwire. All rights reserved.
Market Snapshot
| Symbol | Last Price | Netchange | Volume |
|---|---|---|---|
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
FOX Business Tools
Sponsored By
