/biz/ - Business & Finance

[Canada Thread No.27308937]

Canada Thread /biz/

I wanted to share this to my fellow leafs and sound the alarms. What are your plans for monday? What will you do with your finances?

Place your bets!


https://www.youtube.com/watch?v=HAKetLKjCP8

[Anonymous No.27309559]

Pay for Trudeau's next vacation

[Anonymous No.27310960]

>>27308937
Im buying 3 kg of silver and a bunch of junk silver and gold coins. Fuck jews and hedgies!

[Anonymous No.27311284]

Check upon GME. Buy some LTO, fill out my CERB application, chill.

[Anonymous No.27311307]

>>27308937
>>27309559
Who the fuck is making money when we have a ridiculous 50% cg tax in ontario. People who support this are fucked in the head, no wonder people who bring value leave in droves

[Anonymous No.27311356]

>>27308937
I never thought I'd miss Stephen Harper but here I am.

[Anonymous No.27311499]

>>27311307
That's why I trade through my TFSA. Sure there's a limit to how much you can put in, but no limit to how much you can profit. Just don't daytrade lol

[Anonymous No.27311614]

>>27311307
CG isn't 50% of total. Say you make 1000 gains. Only 500 is taxable and not all of that is taxed (subjected to marginal tax rates) and then there are tax credits and all sort of other things to take into account.

Also the CRA is operating at 10% capacity because of corona and doesn't even go after people for back taxes for years. I have no fucking idea why you people don't just into monero and go lose your keys in a boating accident.

[Anonymous No.27311648]

>>27311284
is cerb happening again or did you just not collect?

[Anonymous No.27311993]

>>27311614

Why is the CRA so mysterious and vague? What is it that makes regular Canadians spooked? Everytime I would hear about a scare story on the news, it would just be a phonecall scam. How come they never got around fixing those CRA scams at all? Even BTC ATMS have to warn people not to fall for CRA scams.

[Anonymous No.27312033]

>>27311307

>>27311614
This
CG taxes aren't 50%, You report 50% of your capital gains and then that reported amount then gets added to your income and that determines your tax bracket for income tax. just don't cash out your gains all at once and you'll be fine.

[Anonymous No.27312034]

Also if you make it why the fuck are any of you living all the way over in Canada instead of Monaco or Belize? You country is about to collapse with the west definitely seceding. Did you niggers even see how much your M0 skyrocketed since the inception of the central bank? Absolutely hyperinflation tier.

[Anonymous No.27312275]

>>27311993
Hoping to scare you into coughing everything up without any effort on their part. CRA doesn't even say anything about staking specifically only mining. Then they say shit like "oh lol well it's taxed as CG if you only do it as a hobby". Like fuck off. If you don't get a tax form and you don't deposit into a bank account or transfer gains into CEX then who cares?

[Anonymous No.27312663]

>>27311499
>Just don't daytrade lol
Just don't use CEX

[Anonymous No.27312742]

>>27308937
Did canada do huge bail outs like the US and if so how fuck is your maple bucks?

[Anonymous No.27312757]

>>27311356
Bruh I feel you so much (not even Albertan)

>>27311499
Same bruh, those GME gains gon be nice in the TFSA.

>>27311648
Its not CERB, has another name and is 10% taxed before being deposited, cant remember the name (you still get 1800$/month but gotta apply every two weeks).

>>27312034
Canadas addicted to low interests cuz it makes the real estate sector booming, boomers are happy & stuff. That + Trudeau spending like theres no tomorrow = austerity in the next 10 years

[Anonymous No.27313062]

>>27312033
I am the only leaf I know who pays his taxes. It's kind of incredible.

[Anonymous No.27313077]

I'm picking up at least 12 shares of AMC tomorrow and some other stuff.

Also couldn't I dump my stock earnings into my TFSA as soon as cash them?

[Anonymous No.27313206]

>>27312742

[Anonymous No.27313321]

>>27313206
Most of that is temporary, it will be bought back and destroyed

[Anonymous No.27313643]

>>27313206
CERB into crypto and silver, it's that easy

[Anonymous No.27313744]

>>27313062
Well you probably won't have to come next tax season with the direction the world is heading.

Btw I know some leafs will take exception to this (because it's a fucking npc cuck country) but taxation is what's keeping us all from a type 2 civilization, especially capital gains tax which discourages capital accumulation and efficient allocation same way a tax on alcohol and cigs do. Income tax is highway robbery and property tax reinforces that you're just a serf of the state. Consumption tax is rape of the middle class as well. Social construct is fake and gay not long refuted after the enlightenment era and tax money goes into corrupt embezzlement schemes and the companies of political families even on a local level overpaying for shit and neglecting services and fixed capital for expensive furniture in administrative offices.

[Anonymous No.27313953]

>>27312742
CERB raped out economy because "scouts honur" doesn't exist. we are basically double what we were in 2008.

[Anonymous No.27313977]

>>27313321
...really?

>>27312663
what's wrong with CEX?

[Anonymous No.27314010]

>>27313321
i dont think so.....they never do that they just put it in a program somewhere or it ends up with a bank somewhere

[Anonymous No.27314057]

>>27313321
LOL history shows that's not how government works. And your finance minister definitely doesn't want that money sitting in bank reserves.

[Anonymous No.27314134]

>>27313744

Whats your advice anon? Leave the country alltogether?

[Anonymous No.27314242]

>>27313977
KYC and Fintrac for starters. Shouldn't really be asking that question after seeing what happened with Robin Hood. CEXs also conviniently go down all the time whenever crypto markets get crazy not letting people login or withdraw funds.

[Anonymous No.27314334]

>>27314134

[Anonymous No.27314445]

>>27308937
Real Canadians hold Asian golden bull coins like BoringDAO.

[Anonymous No.27314501]

>>27313062
CRA is fucking dumb. As long as everything is plausible they won't do shit to you. This one lawyer I know yelled at one of the CRA people on the phone because of some bullshit with self income and then the CRA came and audited him for the next 3 years. Shut his office down and everything while they did it too.

[Anonymous No.27314805]

>not having your money in a Tfsa

Just why?

[Anonymous No.27314953]

>>27314501
I always tell the cra guys they have to come to me so that I can confirm they are legit

[Anonymous No.27315138]

>>27314501
Like I said I knew a couple people with back taxes in the 5-6 figure range and in debt with nice cars and the CRA still hasn't come after them. It blows my mind. They're definitely not going to do shit for awhile being crippled by corona and dealing with the insane backlog ever growing.

[Anonymous No.27315363]

>>27314953
>hey guys can you drive down this hidden bumpy road through the woods on a desolate mountain hundred miles away from your office? Thanks please try not to get lost on the way
best scenario

[Anonymous No.27315464]

>>27315138
my mom hasn't did her taxes in 15 years. all self income and she tells herself her revenue = expenses so no taxes lmao. fuck this country some times. she even called them once and they sent her forms for her to do them but nothing since.

[0x62199827AC6a54C70B9992E8b813(...) No.27315496]

>>27308937
I can’t afford steaks anymore. So I’m hoping crypto will help me eat food

[Anonymous No.27315573]

Imagine unironically being a Canadian haha that would suck

[Anonymous No.27315707]

>>27315464
Just be careful who you tell it to. When I gave money laundering advice on /biz/ years ago I did it from behind 7 torified proxies and dns encryption from a self-nuking hard drive while house sitting.

[Anonymous No.27315752]

>>27315573
"haha we have civil rights heroes too guys! blacks totally were a big part of canada's history"

The canadian inferiority complex is so pathetic. Why our government decided to put on a literally who black woman and not some indigenous person is beyond me. The latter actually makes sense, the former was just trying to be like daddy america.

[Anonymous No.27315760]

>>27315573
:(

[Anonymous No.27315772]

Don't like to trade crypto, as it's hard to get a profit with it, but I am a fan of binary exchangesDoes anyone use Baex( #baex)?

A many of people are talking about it, and I want to know your opinion. As for pros, people talk about a large number of popular shares and market tools, as well as a referral system and transparent open-source code. Is it a good solution?

[Anonymous No.27315792]

>>27315752
no they do it for the wacky regime that's coming soon

[Anonymous No.27315870]

>>27311499
>Its not CERB, has another name and is 10% taxed before being deposited, cant remember the name (you still get 1800$/month but gotta apply every two weeks).
nigga thats just employment insurance. and dont you gotta prove to them you're still looking for work or something? Not as good a source of lazy neetbux if thats the case

[Anonymous No.27315973]

Watching the GameStop madness when I can get a chance while working. Figure out what I want to do with that GME cash whenever I cash out. Before this GameStop fad popped up I was going to put that money into Embridge, so perhaps I'll continue with that plan, or toss some more into crypto since I'm just getting started on that.

>>27313744
High taxes are really holding us back, and its always mismanaged by overpaid government officials who's feelings of superiority over the rest of us mean that they can't be bothered to do better than a half assed job on their tax payer funded salaries.

>consumption tax

I miss living in Alberta, and yeah, a consumption tax specifically targets the middle and lower class. Sin taxes are there to take advantage of either people who are addicted (cigs/alcohol), as well as responsible people who enjoy those things.

We really need a national, public discussion about what government services can be privatised, or at least what aspects can be privatized... and no, not like half the time a province "privatizes" a service where they just hand it over to a monopoly that exercises its monopoly power over its customers (fucking Nova Scotia Power).

Guess I ranted a bit there at the mention of taxes lol.

[Anonymous No.27316141]

>>27315752
honestly surprised they didn't put an east indian or filipino on there.

[Anonymous No.27316167]

>>27315752
A W A R D
W
A
R
D

W I N N I N G
I
N
N
I
N
G

[Anonymous No.27316174]

>>27315138

I've been wondering about this whole ordeal since March 2020. Will they go after everyone who collected cerb since that day? Or will they literally go after every Canadian and squeeze every dollar's worth? I could see this being a very ugly 2021.

[Anonymous No.27316181]

>>27314805
If you want margin and ForEx access, you have to step out of the comfy TFSA limitations.

[Anonymous No.27316355]

>>27316174
>I could see this being a very ugly 2021.
Just wait for the surprise election in the Spring.

[Anonymous No.27316478]

>>27312757
Same bro except im on ei, I really hope another form of ubi gets approved

[Anonymous No.27316490]

>>27316167
>coveted

lmao these people really do enjoy jerking themselves off about how smart/talented/creative they are

[Anonymous No.27316500]

>>27315973
Blockchain is the future my friend. DEFI is literally an impossible ancap dream come true. Just look at the liquidity farming pools. 300% -1000% APY with loyalty airdrops at the end? Yeah that's possible with DEFI right now.

[Anonymous No.27316514]

Will buy blackberry from TSX

[Anonymous No.27316533]

>>27316174
they will pursue you with letters and "tax adjustments" after you submitted your tax return if you haven't paid it back. if you live any decent life they will slowly claw it back. not like those natives who got cerb and partied months until their livers shut down and died.

[Anonymous No.27316851]

Bros. Am I gonna get CRNA anally taxed if I stake my coins on Blockfy or Celsius ?

[Anonymous No.27317012]

>>27316851
Just don't stake them outside of DEFI and monero it into a wallet that's not connected to anything centralized. Like I said I can't find anything about staking being explicitly mentioned just mining, but I wouldn't bet against it being out there somewhere.

[Anonymous No.27317068]

>>27308937
Does Canada have a stock market?

[Anonymous No.27317201]

>>27316851
>>27317012
just add them as 0 cost basis when you cash out, same as airdrops

[Anonymous No.27317286]

>>27317068
the TSX

[Anonymous No.27317367]

>>27317068
theres also some smaller ones, with the king of the exchangelets being the venture

[Anonymous No.27317369]

>>27315752
its hilarious because she doesn't even look black

[Anonymous No.27317420]

trudeau's response to covid 19 has financially annihilated this country

[Anonymous No.27317511]

>>27316851
Also they can't tax staking rewards that aren't claimed since no transaction has occured.

If you really wanna do you taxes then use cointracker but the premium costs 279 or something a year which I guess is nothing compared to gas fees, which you should claim against taxes too. Also this is all tricky because Ethereum is utilized as a currency and if it depreciates against the asset you're trying to buy then it just muddles the waters further. They put all that burden on you because crypto is this new thing that fucks them ass and they're busy dealing with other shit right now. This is why your options are either tax haven or don't acknowledge that you even have a wallet.

[Anonymous No.27317667]

>>27317201
>reporting airdrops on your taxes
Never. They were a gift. That's way too cucked.

[Anonymous No.27317976]

>>27313062
Cra knows everything you’re doing if it’s above the table. They just wait a few years, let you get settled then show up with fines and interest penalties.

[Anonymous No.27318401]

>>27316500
From what little I've learned about this DEFI stuff, it sounds extremely exciting. Would be so nice if we could just modernize our money system to crypto. I haven't touched physical money in years, so its not like the currency being digital would be a problem.

>>27317511
>They put all that burden on you

They don't pay me enough for me to figure out how I'm supposed to pay them. I'll just keep my wallets several steps removed from their eyes, and plead ignorance. My more traditional taxes get paid perfectly fine, so its not like I'd look suspicious... and well, I'm still a crypto noob.

[Anonymous No.27319102]

>>27318401
People mentioned tokenomics alot which means that micro-economies have their own competing monetary policies. Crazy stuff to deliver in a time capsule to myself a decade ago. Also you already have AMC traded on FTX so you're already seeing the effect the orbin hood debacle is having on traditional finance. Just do autistic levels of research to not get flagged by FINTRAC and what not. They already trace "dirty" bitcoins which fucks over people who unknowingly acquire them.

>>27317976
Yeah well they don't have a few years anymore

[Anonymous No.27319982]

>>27315973
>mismanaged by overpaid government officials
>I miss living in Alberta
The irony considering the conservatives in Alberta pissed away all of the province's wealth

[Anonymous No.27320225]

Welcome to the Canada Tax Evasion General /CTEG/

[Anonymous No.27320355]

>>27314134
make as much $ as u can and leave. country is cucked. good luck in the concentration camps fren

[Anonymous No.27320429]

Did you hear about BAEX(#baex) defi binary system? A lot of people try to bring referrals there, and I checked this option. 80% of commissions and 4% of the tokens bought by your referrals, that can be good for passive income.

There are a lot of stocks, indices, crypto, and fiat instruments, and I want to trade Amazon and Disney shares, as I see, they are rising, so it will be easy to get profit with them

[Anonymous No.27321351]

>>27312757
im also on EI trading crypto. made 3k off the U.S elections. Have 15k saved up. Plan to invest 13k in crypto in the next week. Hoping to make enough money to convince my father to invest in altcoins. Then hopefully I never have to work a day in my life again. Baby steps.

[Anonymous No.27321443]

>>27313321
Yes....just like how all those niggers our Somali immigration minister will be destroyed once we used them. Wake up bro.

[Anonymous No.27321724]

>>27316167
>specimen

Im fucking done bro

[Anonymous No.27321727]

>>27313744
Power is the only thing that's real. It's not just taxes or immigrants or whatever. We are governed by malicious neurotic retards and they hold instruments that wield power at a never before seen time. This next decade is going to suck but it's going to be where do the most damage through decentralized means. Then boomers will die and every other npc cuck normie's mind will be so destroyed that we'll lead the charge. After getting redpilled, it just feels like I'm getting raped by a twink with a micropenis. It's humiliating to be ruled by them and absolutely demoralizing to see friends and family being so retarded they deserve it. Not demoralized tho, just angry.

[Anonymous No.27321913]

>>27312033
So lets say i earn 1000 in cg, i only add 500 to my tax return and then add that to my income? And if my income reaches a certain bracket i just pay taxes at that income tax bracket?

[Anonymous No.27322115]

>>27321913
Yeah if thats true its a lot simpler than this bullshit Im hearing about having to show proof of every trade.

[Anonymous No.27322468]

Also will having capital gains FY2021 fuck me because Im on EI? I got laid off Jan 1st and have been doing great with crypto now that I have time to trade and watch charts instead of just holding.

[Anonymous No.27322557]

>>27316500
Dude defi is not just about finance. We are talking about an industry that would be more efficient than the internet, something that could run companies so efficiently you would not need people to do this kind of work. Its glorious, especially if no one can control the economy of it.
People think too little of new tech in the short term and established tech too big in the short term. Hocky stick effect.

[Anonymous No.27322697]

>>27322115
It sounds like they made it more confusing on purpose, ir maybe im just retarded. Someone have a retard cryto explaination