Private Wealth Management: Topics

Tax Considerations

The tax basis is the base price against which a capital gain is measured.

FIFO harvesting is usually the least tax efficient. HIFO (highest) is the most efficient.

In Canada the average basis is used to determine a gain or loss.

Concentrated Portfolios

A concentrated position is one which due to its low tax basis or the client’s biases inhibits developing an efficient, diversified portfolio.