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/biz/ - Business & Finance

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53725914 No.53725914 [Reply] [Original]

>50% of capital gains is taxed
>if the CRA thinks you trade too much, 100%of your earnings are taxed
>brokers suck and have few options to pay around with, nothing like Fidelity

Since crypto is out of the question for leads and also considering that in the eyes of normies it's poison, the only way to make it seems to be either gambling or dumping the max amount in a low market cap stock in a tfsa and hope it moons.

>> No.53725932

>>53725914
yeah low cap since penny stocks are banned

>> No.53725948

all you had to do was buy zch a couple of months ago

>> No.53725949

just don't pay the CRA, what are they going to do?

>> No.53726047

>>53725949
they'll send a mounted police officer to knock down your door
it happened to a friend of mine

>> No.53726085

>>53726047
their problem was reporting their gains in the first place

>> No.53726204

>>53725914
the only thing you need to report is buying and selling on newton or crypto.com app, shakepay etc.. No need to report DeFi activity

fucking crybaby retards

>> No.53726279

>>53726204
>just don't do your taxes bro

>> No.53726371

>>53726204
the royal canadian mounted police has an elite division of horsemen recruited from albertan cattle ranchers who are specifically trained to wrangle tax evaders. it would be foolish to attempt what you're suggesting in canada

>> No.53726393

Make your enemy fleecing poor Indians or slumlord in America - like the rest of the Canucks

>> No.53726415

>>53725914
buy BBBY in tfsa, merger and acquisition

>> No.53726418
File: 1.03 MB, 880x520, rcmp-ass-raped.png [View same] [iqdb] [saucenao] [google]
53726418

>>53726371
>Rcmp
>elite

they can't fucking investigate their way out of a wet paper bag, made a total shit show out of every major incident in this shithole leaf country

>> No.53726756
File: 38 KB, 450x482, 1676223361462896.jpg [View same] [iqdb] [saucenao] [google]
53726756

>>53726279
(You) are pic related.

>> No.53726870

>>53726756
Not an argument, chud

>> No.53726964

I've never reported any of my crypto gains and haven't had a problem. I assume that's because I'm in the mid-4 digits in that regard though.

>> No.53727028

>>53725914
>50% of capital gains is taxed
nope
50% of YOUR capital gains is taxed
i.e. if you make $100k you pay tax on $50k which is at 50% rate by default so you pay 50% on $50k. However if you dont make enough money all year long to be in the 50% tax bracket your returned the difference. for example if your yearly tax bracket is 28% you will receive 22% of your capital gains tax back, and if you report losses you have you could receive it all back
or you can use your TFSA and have tax free gains.
your next point was also retarded you just need a broker license.
try reading more zoomzoom before you open your noise hole

>> No.53727385

>>53725914
Because Canada is tyrannic government disguised as a democracy

>> No.53727678

>>53726371
>royal
>mfw

>> No.53727853

>>53726204
Based on what? What you wish the situation was? Terrible advice from a retard who's gonna get audited.

>> No.53728168
File: 34 KB, 493x387, 1667752830077278.jpg [View same] [iqdb] [saucenao] [google]
53728168

>>53727853
"audited"
lol, lmao even

go be a good goy, chang

>> No.53728199

>>53727853
this one took the koolaid

>> No.53728216
File: 8 KB, 300x168, 1639529837420.jpg [View same] [iqdb] [saucenao] [google]
53728216

>>53725914
Why is crypto out for leafs? Paying income tax on 50% of your profits is pretty reasonable. Much better than the income tax on 100% of your wages.

>> No.53728248

>>53725914
>HAHAHAHAAAA!!! WE GOT FREE HEALTHCARE!!! SUCK IT MURRICANS!!
>spends 50% of his money keeping retards alive
>gets the maid
>family has to pay for it.

lmao, imagine being cucknadian

>> No.53728315
File: 237 KB, 853x1000, 1643414585920.jpg [View same] [iqdb] [saucenao] [google]
53728315

>>53728248
Go compare the marginal tax brackets and report back on your findings.

>> No.53728636
File: 240 KB, 1075x1428, d8c56be0-5b9e-11ec-8b4e-13ccce20833f.jpg [View same] [iqdb] [saucenao] [google]
53728636

>>53727028
im not a leaf but i was interested so read up about this weird system but still don't fully understand it.
>https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes/taxes-2/5.html

1.if you are in the lowest band (earn exactly 50k)
2. if you make a capital gain of 100k
3. 50% of that is taxable (50k)
does that mean you are taxed for band 2 and 3 (20.5 and 26% respectively)?

as bands 2 and 3 make up roughly 100k (50-150k)
does that mean you would be taxed:
20.5% of 25k (5.1k)
26% of 25k (6.5k)
in total, 11.6k
which is simply equates to 11.6% capital gains tax rate?

>> No.53728951

>>53728636
It just means you earned 100k that year, and you are in the 100k tax bracket. (50k in salary, plus the 50% of your capital gains)