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Financial Planning / Tax Strategies


Subject:  Re: re:tax penalties Date:  11/2/2000  8:16 PM
Author:  ptheland Number:  41448 of 123001

The scenario is this. I've been left some money. It's in Cananda.

I'm not sure what you mean here. Did you inherit money from someone living in Canada?

The money is sitting in a bank account up there. It's over 50,000 Canadian. I'm not invested in anything yet. I don't really know what the tax penalties are, if there are any.

Again, I'm confused. Tax penalties are only assessed when you have a tax that was not fully paid by the appropriate due date. Are you aware of some tax that hasn't been paid?

I'm seeking suggestions or any feedback from anyone who has been in this same postion. I'm 55 years old, self employed and hopefully working f