Canadian with the most linkies?

[Anonymous No.23872578]

Leaf masterrace check in. What's your stack? I'm at 14k, top 3000 wallets overall.

[Anonymous No.23872595]

how the fuck are we supposed to cash out leafbros?

[Anonymous No.23872598]

>>23872578
i have 100 link!

[Anonymous No.23872604]

>>23872578
how do you plan on dealing with the tax issue?

[Anonymous No.23872644]

you're not. but i do concur leafs do hold an inordinate amount of chainlink compared to the states.

>>23872595
you get residency in the us and never report your 80k yearly cash out amount in nevada to the cra

[Anonymous No.23872885]

>>23872644
>you get residency in the us and never report your 80k yearly cash out amount in nevada to the cra
and where do you live while doing that, nevada or canada? I read that portugal and malta are also worth looking into but you would have to live there 6 months iirc

[Anonymous No.23872928]

i have 21 000 LINK

[Anonymous No.23872930]

>>23872885
Yeah well you just need to stay max 6 months in canada. You will be in the "non-resident" tax bracket. Meaning any money or income that you make outside of canada will not be taxable

[Anonymous No.23873001]

>>23872578
19K in Alberta

[Anonymous No.23873021]

>>23872885
you would live in nevada during shitty canada winter. this place is such a shithole my god i can't wait to leave

la seule chose que je me manquera sera les salopes anglos

[Anonymous No.23873048]

>>23872644
Tabarnak t'es riche toé.

But are you allowed to own a company in canada too? Ive always wondered

[Anonymous No.23873076]

>>23873021
>que je me manquera
retournes à l'école, Mohammed.

[Anonymous No.23873093]

>>23872578
35,000k living in north york.

[Anonymous No.23873094]

>>23872578
200 like a poorfag

[Anonymous No.23873115]

>>23872578

Average joe with 1k2

[Anonymous No.23873116]

>>23872578
Only have a small stack of 1,488.

[Anonymous No.23873125]

>>23872930
Hold up. 6 months abroad, and you're in the non-resident tax bracket so you don't pay canadian capital gain taxes?

[Anonymous No.23873144]

>>23872578
fellow leaf here, I got fucking fud'd out, been on this board since 17'. congrats on the gains bro.

[Anonymous No.23873189]

>>23873048
you should keep your ties seperated. anything that remains in canada after you're gone WILL be used against you.

>>23873125
i always failed french kek. but thats not how it works. you have to be prepared to prove you've severed all ties in canada. if you're an incel with no property, you're good to go

[Anonymous No.23873216]

so if I already have a US citizenship this would be even easier? I literally just have to move to Nevada for 6months+1day?

[Anonymous No.23873229]

>>23873189
Yeah, that's what I thought. But if you actually do it and cut all ties, is that considered tax evasion? Or is this a completely legitimate and legal scheme? Because taxes are brutal here but i dont want to end up being a fugitive or some shit

[Anonymous No.23873298]

>>23872578
160

[Anonymous No.23873343]

>>23873216
yes. its that easy. you're already a us citizen so im sure its the same but for canadian tax returns you just check the box that states you're a resident and its not going to be flagged.

>>23873229
its legitimate. how the fuck is cra going to know how much crypto you have? the irs ain't going to bother you cashing out 80k a year either

[Anonymous No.23873404]

Have you guys paid crypto taxes before in Canada? Anything important to know or to watch out for?

[Anonymous No.23873439]

>>23873404
If you deposit under 10k into ur bank you wont sound alarms
Havent had any issues with RBC
But big withdrawals I have to phone them and advise them before deposit
I use CoinMetro
Flawless

[Anonymous No.23873455]

>>23873343
>how the fuck is cra going to know how much crypto you have? the irs ain't going to bother you cashing out 80k a year either
What do you mean? If you cash out crypto into a bank account abroad they can definitaly know, thats how people get caught.

[Anonymous No.23873508]

fuck canada
>>23873285

[Anonymous No.23873514]

>>23872578
30
probably a whale by northern ontario standards

[Anonymous No.23873537]

>>23873189
If i just have my chequing account and 1-2 credit card, I think im good no?

[Anonymous No.23873542]

>>23873343
if you want to accomplish something with your money instead of consooming, then tax returns maybe needed, such as getting a mortgage. You could buy it all cash but then again, how will you get the money into a bank without raising redflags? Most of the financial services industry are big on Anti Money Laundering and KYC.

[post your swing trades here No.23873556]

40k stack here, i legitimately feel stressed about having to deal with withdrawing & taxes. its been 3 long years... im so close to the finish line but i kept shit records of all my trades and etc.

[Anonymous No.23873566]

>>23873125
Yes. But if you make money in Canada (for example from real estate or stocks or whatever) you'll still be required to pay taxes regardless if you stay 6 months or 1 day.

From what I heard, thats how you do it:

Set up a company in Nevada or Panama or wherever theres no capital gain tax, and just make sure you stay <6 months in Canada.

[Anonymous No.23873605]

>>23873566
I think that's how people did it a few decades ago but is no longer possible because that's textbook tax evasion. Seems way too easy to be true at least

[Anonymous No.23873614]

>cashing out ever
ngmi

[Anonymous No.23873623]

>>23873455
cra doesn't know where i store my crypto, its that easy. cashing out is not a problem when you already live there, especially when yhou open a bank account being there.

>>23873537
yes. no resideitnal tie means no wife or property and not here for 6months +1

>>23873542
i just need to cash out 80k a year, its tax free in the us up to that amount (or 40k with no spouse). and i'll be filing it no problem. i'll just have to wait to get property

>>23873566
this is correct. any money made in canada you have to report, BUT you don't report your income you made outside canada. ex. you receive canada dividend and us interest. you don't report the us interest.

[Anonymous No.23873632]

>>23873605
>>23873566

[Anonymous No.23873641]

>>23872595
im just assuming by the time link moons there will be easy cash out options
3.6k linklet here

[Anonymous No.23873656]

>>23873623
>t 80k a year, its tax free in the us
source
>filing it
so you will report your income?

[Anonymous No.23873710]

>>23873656
Nevada has 0% capital gains state tax. US federal tax allows tax free capital gains up to 40-80k.

heres what i do - i report my 80k withdrawal to the IRS, and seeing as its completely legal to do, they don't do anything. i don't need to file a canadian tax return because it snot income earned in canada.

[Anonymous No.23873749]

>>23873623
Yeah, having the crypto in your wallet is the easy part. It's cashing out thats a little sensitive. If you live abroad,open the account abroad and cash out there do you no longer have the right to come back? At what point are ou doing tax evasion etc

[Anonymous No.23873761]

30k. How the fuck can we cash out boys? Shakepay? Gemini?

[Anonymous No.23873788]

>>23873749
of course you can come back? its not tax invasion at all when you have all your paperwork done and you are officially a non-resident. unless you do extremely retarded things, cra does not have the resources to pursue non residents who don't even come to canada

[Anonymous No.23873794]

>>23872578
I have 0
Bought Core instead.

[Anonymous No.23873811]

i use shakepay what else is there?

[Anonymous No.23873830]

>>23873623
Thank you based fren

[Anonymous No.23873843]

100k in india (brampton)

[Anonymous No.23873930]

>>23873788
Unfortunately I've done KYC for too many brokers when tossed in my initial investment. I'm liable for 300K tax this year and the thought of evading it knowing that I have done so many KYC's makes me uncomfy reeeeeeeeeee

[Anonymous No.23873988]

>>23873930
ah rip then. i never sold a single link or engaged in any trading for 3 years

[Anonymous No.23874018]

>>23872578
Shit I aped into this, check it out chads https://app.uniswap.org/#/swap?inputCurrency=0x8141c1e697428f62d0783917602133ad1434ce38

[Anonymous No.23874098]

>>23872644

Félicitations mon frère!

[Anonymous No.23874156]

>>23873614
meat eaters are fucking trash

[Anonymous No.23874165]

>>23873988
That is amazing. Your hands are truly steel. I stupidly sold some linkies for yfi and hegic without doing enough DD on tax liability. Made money but the tax headache makes it feel like it was not worth.

Do you reckon there's still a way out of this massive tax liability short of blatantly falsifying trades that I declare?

[Anonymous No.23874178]

>>23874165
would reinvesting it into a stable blue chip stock and then just pulling out what you need work?

[Anonymous No.23874216]

>>23874165
i've heard you can falsify your acb but that might be difficult to do since you reported your initial investment. no idea and yeah a big part of me not selling was because specifically of the tax headaches that might come.

[Anonymous No.23874298]

>>23874216
Reeeee i wish I had your foresight. I haven't reported anything yet. Just went through tokentax process to figure out the liability + KYC from 3-4 exchanges approximately 3 years ago. Also spoke to my accountant and she was like yeah I have no idea how crypto works just give me your tax liability and I'll file it

[Anonymous No.23874299]

Canada is 50% capital gains tax need I remind you
I go through raymond chabott to deal with this shit

[Anonymous No.23874321]

>Canada

[Anonymous No.23874516]

>>23874299
not exactly

>In Canada, 50% of the value of any capital gains is taxable. In our example, you would have to include $1325 ($2650 x 50%) in your income. The amount of tax you'll pay depends on how much you're earning from other sources.

[Anonymous No.23875528]

bump cus fk the cra

[Anonymous No.23875617]

>>23873343
CRA asked all KYC clients info to all canadian crypto exchanges

[Anonymous No.23875621]

>>23872928
no one cares evgeniy

[Anonymous No.23875658]

>>23875617
so am i safe on binance?

[Anonymous No.23875685]

>>23872595
Uniswap?

[Anonymous No.23875741]

My issue is I converted 2500 link to eth to liquidity mine on uniswap. Then I made a bunch in the yield farming boom staking the pool tokens. I made 1400 link in the end.

So I guess converting to eth was a taxable event right? Like a $50000 gain I guess once the link was swapped to eth (All done around September) Plus the 1400 link made through all the yield farming.

I used the koinly app but it has trouble understanding what pool tokens are. At one point it said I had like a $70000 loss when I had made like $20000, not including my swap from link to eth.

[Anonymous No.23875769]

>>23875658
you did have to do KYC on Binance ?

[Anonymous No.23875815]

>>23872578 You will find countries outlawing cryptocurrencies and then in the final straw, they will most likely seize everything and then put it into whatever digital currency the government has created at whatever exchange rates they decide which may even be a discount to whatever the fair market value may be. There will be no recourse. Even when Roosevelt confiscated gold, private contracts that required payment in gold were all nullified. That went to the Supreme Court arguing the President could not alter private contracts.

[Anonymous No.23875830]

>>23874516
That's what I thought the deal is. What about it is wrong?

[Anonymous No.23876094]

>>23874516
If you get deemed a venture or a business and make more than 400k, the number in excess of that can approach 70% taxation. A single trade can be deemed a venture under the same policy that applies to venturing into the dark heart of africa to find a diamond or buying a boat that somehow appreciated while you did nothing with it. Shit's gay up here.

But yes. If you can nail it down as a capital gain your worst case isn't nearly as bad.