Bitcoin Forum
June 24, 2024, 08:17:50 AM *
News: Voting for pizza day contest
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Bitcoin / Legal / Re: How Canada tax bitcoin on: September 21, 2018, 03:26:15 AM
Actually, I  hate to know about taxing. It looks really hard complicated for me and many many more option to fill. I think they do not know and take tax unless I put money back to account. but point of my question I need to know cause I just see some gap of the bitcoin price you guys knew. Some website or platform trading cryptocurrency not the same price in the same time.
I just plan if I buy btc from A then transfer to B. I still have some amount  of profit so I transfer fiat to account and then loop like this.
(can not take it out to do profit as coin from B coz every coin from B are all higher price from market so it suppose to be only way out)
That why they know about my fiat coming on my account. this cause me to study about tax from cryptocurrency if it's as my plan I think I still have profit left some after I paid tax to them.
But I'm not sure this action counts as money laundry? and profit from bitcoin do they calculate as capital gain or income?
2  Bitcoin / Legal / How Canada tax bitcoin on: September 20, 2018, 02:49:01 AM
Hello everyone

Sorry for my English skill. This is my first time to post the topic. I have some question about taxing profit from Bitcoin. Start from zero
I trade this for personal not business( I have only personal account)
1. Form to fill for declare CRA (Is it 5000-S3 T1 General 2017 ?) send it with T1 at end of year ?
2. Profit from Bitcoin always count as Capital gain?
I never know or experience to do any document about tax(income, T1). My cousin do everything for me and then send to accountant
and this time I have to find the way to pay tax for bitcoin myself( everyone around me don't know, interested , even resist to cryptocuurrency)
even accountant I went to consult for tax. They didn't know when I ask about cryptocurrency. I just want to know exactly how to pay tax.
Need knowledge from you guys who knows this process or experience this. I don't want any problem or more tax come after me from CRA.
(Someone I know got CRA chase after and always take money off from his account because CRA found he avoided tax and sue him for 1 M CAD)
I really appreciate for your help
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!