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Author Topic: Bitcoin TAX  (Read 2547 times)
moneyboss
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November 02, 2013, 03:58:08 AM
 #21

yeaas i understand, but if i was to report it would be under income section

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Ecurb123
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November 02, 2013, 09:28:35 AM
 #22

I don't even know how one would file that, is there a section for BTC? Anyway don't bother.
porcupine87
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November 02, 2013, 10:31:57 AM
 #23

Hello i have a question, it is about taxation laws on bitcoin in CAN.

Do i have to pay tax on gift cards that i buy ? if so how does it work.

If i get the bitcoin by not buying it or mining it, but lets say as a gift or by gaming.

Do i need to pay tax on the goods i purchased with bitcoins.

very tricky situation we have here.

1. I don't know the law in Canada.
2. Would you live in Germany, it would be interesting.
- if you get 1BTC which is worth 100$ and dann sell it one year later for 200000$ -> not tax. Earlier than one year? -> 25% income tax.
- winnings from gamblings are tax free but private gambling is forbidden. (casinos owns the state) But if you play poker on poker stars (foreign country) they don't run after you.

So what would be if you got 1btc for 100$ and than through gambling you make it within 6 month to 2btc which is worth 400$?

But in your case I would not bother. It is not sooo much money and can always say you did not know...

"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
moneyboss
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November 02, 2013, 03:35:57 PM
 #24

yeah i see, it is important to note that i never paid for any of my btc, i got them for free.

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