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27151519 No.27151519 [Reply] [Original]

How have my fellow leafs been able to make it with crypto, without getting taxed to death?

>> No.27151570

>>27151519
nice try CRA

>> No.27151585

What taxes? Never sold

>> No.27151678
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27151678

>paying taxes

>> No.27151684

>>27151585
What so you're telling me the jannies can't do shit if you never cash out?

>> No.27151784

Don't sell, if you use it it's considered bartering and isn't taxed

>> No.27151825
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27151825

>>27151519
> declaring your crypto income

>> No.27151870

>>27151684
in Canada, yes, your capital gain isn't realized (and taxable) until you sell. HODL is tax free here, whereas if you are day trading and doing well, if/when the CRA finds out they're going to hit you up for 50% (as trading income is the same as T4 earned income)

>> No.27151879

>>27151519
don't declare it nigger holy fuck

>> No.27151919

>>27151519
Don't sell. And only 50% of capital gains are taxable. Which at most 37% is taxed. KYC and CRA flags only major wins above $10,000. They don't really mind your puny $500 CAD gain, but probably report it anyways along with the $400 capital loss from uniswap scams you had.

Congrats, you aren't taxed that much.

>> No.27151962

>>27151570
fucking kek

>> No.27151999

>>27151570
you glow...

>> No.27152003

What is the lest platform for leafs? Shakeplay, then transfer to an american exchange with more options?

>> No.27152011

>>27151784
bartering transactions are technically taxable because each asset traded can be assigned a market value, but yeah good luck to the CRA on that one

>> No.27152016

>>27151870
But Crypto to Crypto transaction are so be careful. Example- Converting Btc to Stablecoin which you plan to slowly convert to fiat over the next few years. BTC to DAI is a taxable event.

>> No.27152133

>>27151999
excuse me? I glow? you fucking glow fren

>> No.27152146

>>27152003

I use newton for btc/ltc/eth & transfer out to other exchanges for other coins

>> No.27152148

>he doesnt sell his coins for raw cash in toronto's black market crypto clubs
ngmi

>>27151919
but this really
the CRA web page on crypto is actually pretty informative, OP

>> No.27152269

>>27152016
Let me understand this then: Uniswap is shit for leafs?

>> No.27152271

>>27152146
Do you keep most of it on newton? I suppose it doesn't really matter

>> No.27152348

>>27152016
>Crypto to Crypto transaction are
This is true, Canada has blanket rules on capital gains and it applies to currency trading as well, the CRA considers all cryptos currencies and would like to tax them as such. That said, I don't know anyone who has paid taxes on crypto ever despite lots of trading over the years; I don't think the CRA would even know where/how to start an investigation into this

>> No.27152384
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27152384

>>27152133
my eyes...

>> No.27152704

>>27152016
Is trading one stock for another stock considered a taxable event if anyone here knows much about the stock market? If it isn't I don't see why trading shitcoins should be either.

>> No.27152932

>>27152146 (You)
Do you keep most of it on newton? I suppose it doesn't really matter

I keep it on my external wallets and transfer into Newton when I'm ready to trade. They even do e-transfers without needing to verify.

>> No.27153055

>>27151519
If you make $100,000 CAD in capital gains, they will tax you $8000 tops. Bitch please, god bless our government and tax laws.

>> No.27153134

>>27151519
Just buy gold directly with the crypto, can't tax gains that they can't see

>> No.27153177

>>27152003
I use Shakepay and then transfer to Exodus

>> No.27153509

Anyone have a general experience with Netcoins? I bought my first Bitcoin there, though I'm not sure about using it as a cash out method.

>> No.27153583

Just pay the taxes. Capital gains taxes aren't terrible in canada, especially if your income is low.

>> No.27153664

>>27152932

Why are you samefagging a conversation with yourself you fucking faggot

>> No.27153865

>>27152148
>>he doesnt sell his coins for raw cash in toronto's black market crypto clubs
>ngmi
w-what

>> No.27153925

>>27153583
>Just pay the taxes
why? so the government can shovel another billion dollars to the Kielberger bro's for their "charity" to buy more Toronto realestate?

>> No.27154021

>>27152932
>>27152146
lmao they're the same fag
>>27153664
why indeed...

>> No.27154470

>>27153055
fucking this. I never understood what the issue is, its not that bad

>> No.27154652

>>27152269
how the fuck is the CRA going to find out about your uniswap transactions anon

>> No.27154982

>>27153055
Close, if you make 100k cap gain, they will tax 50k of it at the same rate as your income tax bracket. If you make 50-100k a year you will be taxed 20% of that 50k so more like 10k - so yeah I guess a 10% tax rate isn't that bad... but fuck man the libs are just going to waste or steal every cent you give them.

>> No.27155559

>>27152133
Go back, please.

>> No.27155899

Buy physical silver or gold for crypto and hide it in your minecraft floorboards.

Wanna buy a house find an old Greek or Italian and swing it so they buy the house cash and sell you the deed for $10.

Pay the cost plus 10% in physical silver.