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Originally Posted by Oling_Roachinen
So now you want to bank on politicians and parties keeping their promises? Ha, yeah right.
He sold 100,000 shares at a price of $15.20 per share on Nov. 23, 2015. shares were worth 15 on December 3, 2015 when he sold another 100,000 of them. On December 7, 2015 they were worth 14.90 prior to the announcement and 14.09 a week later.
He sold his shares for $3,200,000 prior to the announcement. Shortly after they were worth $2,818,000. If he in anyway was tipped off by his son, that's nearly $400,000 he 'saved' from information that was not available to the public. It could also be a coincidence, or him acting on his own judgement with no information from his son. And while the stock may or may not have gone down as a result of the announcement, it's still a question of whether his father acted on the basis of any insider information that his son may or may not have provided.
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Everyone with even the slightest interest in finance knew what changes were coming. Accountants all over the country were advising high income clients to consider disposing of assets in 2015 rather than 2016 in order to avoid the tax increase before there was any official announcement:
https://www.collinsbarrow.com/upload...h-Nov-2015.pdf
http://www.mondaq.com/canada/x/44114...ral+Government
Here's a KPMG bulletin from October 28th, 2015:
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You should consider accelerating income into 2015 versus 2016 (or, where possible, deferring expenses or deductions until 2016) if you are affected by the newly elected Liberal government’s election platform promise to introduce a new 33% tax bracket (up from 29%) for annual incomes of more than $200,000. Since it appears that the rate increase will not take effect until 2016, individuals at the new top marginal tax rate will realize a 4% federal savings on ordinary income (such as salary or bonuses) received in 2015 rather than in 2016, which could result in combined federal and provincial absolute tax savings ranging from 1.9% in British Columbia to 7.75% in Alberta, depending on your province of residence.
Accelerating other kinds of income into 2015 versus 2016 could also yield tax savings. Depending on your province of residence, you could see absolute tax savings on capital gains ranging from 0.95% to a high of 3.88%.
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https://home.kpmg.com/content/dam/kp...s-tnfc1530.pdf
That doesn't mean he couldn't have had insider information, but a high income individual selling off taxable assets in the fall of 2015 after the Liberals, who'd just spend months campaigning on the fact that they were raising taxes on $200K+ income brackets, just wont he election isn't the least bit suspicious on its own. That effect is part of the reason the stock market lost 6-7% of its value from the election to Dec. 31st before rebounding in the new year.