/biz/ - Business & Finance

>>28533093
was your bank implicated in pic related?

>>28365047
try looking into the Magic Circle firms. Probably not worth setting anything up unless you are 7figures

>>26001479
Lots of normies know about the TFSA.
>>26002210
if you are making lots of trades/week then you are better off in a non TFSA. Hell you might be better off trading under a corp name or LLC. Might not be worth it for 22K usd though. They can still come at you and tax your gains as business income if they audit you. Unlikely since you are 5 figures

>>25166883

>>23873605
>>23873566

>>23629089
i dont really day trade, i dca into boomer funds. Although some options strategies are interesting. Saw one posted here yesterday that claimed to beat the S&P over a 20yr period.

>>23476936

>>23473543
pic related is much more interesting

>>23402866
Its almost as if ..

>>23374326
Reminder, Harper was going to up the limit for contributions to $10K. Trudeau won and rolled it back to 'keep track with inflation'. Once the yearly contribution limit hits 5 figures, is when i think the TFSA will fundamentally change to mimic something more like the ROTH in the USA. Or maybe they will implement a rule that only the first $10k withdrawn can be tax free and cap yearly contribution at $10k. Can't wait because, the public wont do/say shit

>>23302170
>who wants to pay for postage and wait for days or weeks or months?
incels and people who dont want to leave mommies basement.
>>23302155
>taxes on crypto
shouldn't there be some way to do a property swap for shares in some corp? in order to defer the tax. you can do that with other property, dont see why not with crypto

>>23083754
https://www.investopedia.com/terms/d/double-irish-with-a-dutch-sandwich.asp

>>22992918
You can't do anything. Pay your tax with your tax license. Think hard about where you can move to to avoid crypto tax in the future. But lets be realistic, you aren't going anywhere. Alternatively, you could talk to an account, tax lawyer(think free consult) and ask them how to best structure future tax business. Doubt it will be worth it for you. unless you have 6 figures

>>22918164
>TFSA is overpowered
yes and in the years to come its rules will change. especially with money hungry politicians looking to create new welfare programs or fund existing ones.
>>22918188
>custom build tax shelters
yep. just like any other country.

do you really want know ?

just program a Smart Contract to deal with your trades, tax, triple entry accounting etc Also, look into property swaps

>>22586706
none of that matters unless you have a tax efficient structure set up eg. LLC, LLP, S-corp etc
Whether KYC or non KYC, you owe taxes on any disposition of cyrpto/crypto to crypto

Any legit off ramp will hodl your funds when they see a large transfer or in-person deposit come in

>>22366416
They don't need to. If they smell something fishy or the cuckbanks that are in bed with the gov't see a large transfer into your account they will hold it until you answer a shit load of questions. Remember the CRA can go back indefinitely if you purposely avoided taxes. They can hammer you with taxes, penalties and interest. Not too mention lawyer, accounting and other fees. Trudeau is going to fuck your gay bumhole. Try lobbying the taxpayers federation to change the crypto tax laws

Maybe trade inside a smart contract to shelter tax somehow? Let it pay out upon your death to the tax authority? Property swaps?
A Poo explains:
https://youtu.be/NV5ubkGQUes?t=82

Perhaps if Fidelity Investments gets in to crypto(which is a work in progress), you could get them to be custodian of your crypto and then take a loan out with a bank.

Relevant
https://www.youtube.com/watch?v=ZmEvAk5LRko

Also waiting for the day when you can trade/hold in a smart contract.

a poo explains one possibility
https://youtu.be/NV5ubkGQUes?t=77

if you are cashing out a large lump sum, you should set yourself up on the other side(corp, llc,) so you can hold future property(land, real estate, other property) in a tax efficient way. the corp/ llc will be able to provide you dividend income, which is the most efficient taxable income, at least in leafland

>>21676779
>>21676827
>>21676874
>>21676939
I dont understand. is this to avoid the tax man? or just set yourself up on the other side after cashing out of crypto?

If anyone is sitting on large unrealized gains in crypto say >$500k, then you can just set up free consults with a few tax lawyers, accountants etc to see if there is anyway to mitigate the tax owing.
or
just yolo and say fuck the taxman. one of my friends is going to do this.
pic very related

>>20537275
forgot pic

>>18683683
>tax avoidance
what you mean to say is 'tax mitigation'.
there are plenty of tax havens and tax friendly countries(see pic related). You need to set up a corp>shell company that is untraceable to you. Alternatively, if you are that obsessed and upset of being cucked, move to a place like Monaco, British Cayman islands(you won't).
Find out whether or not your current country of citizenship, taxes you on wordlwide income or not. Before you move, make sure the country you are going to has dual citizenship with your current country. Then renounce your original country's citizenship(if they tax you on worldwide income)

It's ironic that you are asking for free advice on Soup Can image board, yet won't pay an international tax lawyer and accountant to help you. The reason wealthy people pay little to no tax is that they have a team of advisors that keep track of laws, rules, methods etc on an on going basis.

>>18364790
>>18365001
you could find efficient tax structures in USA and Cucknada and not endure all the risks associated with living in a third world.
Just remember that Americans and Canadians get taxed on worldwide income despite where you live in the world. You would have to renounce your citizenship to avoid this.Your citizenship encapsulates more than just getting cucked on tax