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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.
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Friday, April 25, 2008
New Pacific Metals Corp. Announces Results for the 3rd Quarter Ended March 31, 2008
Comtex
VANCOUVER, BRITISH COLUMBIA, Apr 25, 2008 (Marketwire via COMTEX News Network) ----New Pacific Metals Corp. (TSX VENTURE:NUX) (the "Company") announces its unaudited consolidated financial results for the third quarter ended March 31, 2008. All figures are expressed in Canadian dollars, other than share data.
HIGHLIGHTS
During the third quarter ended March 31, 2008, the Company incurred a loss of $336,910 equating to $0.01 (2007 - loss $1,117,387 or $0.05 per share) per share as it furthers its exploration activities in pursuing exploration licenses and permits, in China, to facilitate the growth of the Company and ultimately shareholder value.
As at March 31, 2008, the Company had a working capital position of $14.5 million. Cash and cash equivalents plus short term investments, as at March 31, 2008, amounted to $14.0 million (June 30, 2007 - $15.0 million) and are unencumbered. Short term investments are invested in high quality money market instruments. The Company does not invest in any asset backed commercial paper and therefore does not consider that it has any exposure to the current uncertainties in the marketplace.
OUTLOOK
The Company's overall focus is to strengthen and grow through the exploration and development of its current portfolio of China based projects, in conjunction with seeking the acquisition of high quality mineral projects throughout China, to deliver, within a reasonable period of time, enhanced shareholder value.
Currently, the Company's exploration programs are focusing on drilling the HNK gold-polymetallic project in Guangdong province.
The Company's Unaudited Interim Consolidated Financial Statements and Management's Discussion and Analysis are available for review on our website at www.newpacificmetals.com and through SEDAR at www.sedar.com.
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. Lou Duarte Director (604) 633-1368 (604) 669-9387 (FAX) Email: info@ newpacificmetals.com Website: www.newpacificmetals.com
Copyright (C) 2008 Marketwire. All rights reserved.
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