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Author Topic: Investment Clubs in North America  (Read 300 times)
Nyamweya Osoro
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Investment Clubs in North America
« on: April 10, 2006, 12:56:15 PM »
According to a website belonging to the Investors Association of Canada (IAC) (see http://www.iac.ca/default.asp), a nationally chartered non-profit association of individual investors, there are thousands of investment clubs in Canada and in the United States. Since they first began in Texas about 100 years ago, investment clubs have steadily been growing in popularity. Currently, the National Organization of Investment Clubs in the United States (NAIC) includes over 6,000 clubs. In Canada, investment clubs began to operate in 1928 when a group of schoolteachers in Oshawa, Ontario formed the Old Canada Investment Co. Although investment clubs have existed in Canada for over 70 years, they are less well organized than their counterparts in the United States. The website has more information about investments and how to start and run a successful investment club. (See http://www.iac.ca/InvestClub_1.asp)

Recognizing the popularity of investment clubs, the Canada Revenue Agency (CRA) has publishe an information circular specifically for investment clubs. See (http://www.cra-arc.gc.ca/E/pub/tp/ic73-13/ic73-13-e.html). In a nutshell, the information circular describes how investment clubs and their members ought to be treated and taxed by the CRA. The circular allows the investors to elect, if they so wish, to report their income as if the investment club is a partnership, only if all the members are individuals.
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