[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 28 KB, 500x548, DWKIYVfW4AA5-As.jpg [View same] [iqdb] [saucenao] [google]
8560238 No.8560238 [Reply] [Original]

Any Canadians want to tell me how the fuck to file crypto in my tax returns? I've made over 200 trades this year and there's no way im going through them all. Am I screwed?

>> No.8560313

CRA taxes crypto as capital gains. 50 percent of the profit at your normal taxation rate upon realization of gains. Its not on every trade yet.

>> No.8560328

better pay up so Trudeau can buy more lube to jerk off ISIS members

>> No.8560329
File: 73 KB, 560x582, MALAHOV_SHURIGINA.jpg [View same] [iqdb] [saucenao] [google]
8560329

>>8560238
keep it in Bitcoin and forgot about taxes, forever

>> No.8560332

>>8560313
Can anyone confirm this

>> No.8560338
File: 60 KB, 250x250, FINISH_HATE.jpg [View same] [iqdb] [saucenao] [google]
8560338

>>8560332
keep it in Bitcoin and forgot about taxes, forever

>> No.8560343

>>8560313
Correcterino

>> No.8560345

Don't

I made over 15k fuck the taxman

>> No.8560362

>>8560313
what about if i dont cash out at all?

>> No.8560408

>>8560338
no son I sold at 18k, gotta know when to take profits

>> No.8560412

Don't claim your crypto gains on your return. Why on earth should you give your hard-earned gainz to Stacy just because she was too retarded to tell Tyrone to use a condom or abort Tyrone Jr.? Why should you give your hard-earned gainz to all the parasites on the Sunshine List? (list of government employees making $100k+)

>> No.8560426
File: 14 KB, 210x210, ELEONOR_ACCAUNTER.jpg [View same] [iqdb] [saucenao] [google]
8560426

>>8560408
tax will cut all (You)r posible profits
just keep money where no one can tax em

>> No.8560447

>>8560238
this image is offending.
you are a worshipper of satan, evil, the bog's.
Sminem will have his way with you once the battle is decided. bastard.

>> No.8560459

>>8560426
i can understand your perspective but my crypto position has grown too large for my liking, i keep my allocation for crypto at 10 percent max. gotta pay my taxes like a good slave

>> No.8560542
File: 111 KB, 750x500, 2750g3.jpg [View same] [iqdb] [saucenao] [google]
8560542

Suck it Justin Cuckdeau. I'm not paying to support single moms knocked up by Chad and Tyrone. I'm not paying to support rapefugees and public sector parasites. Look at this doozy of a list https://www.sunshinelist.ca/

>> No.8560575

>>8560238
>>8560313
Seriously though what I said is only partly true. CRA has alot of rules that this shit falls under. But this is essentially commodity trading, with all the bullshit that comes along with that. So say i trade btc for eth. The gains or losses from where i bought into btc with fiat to selling it for eth are factord in. Including transaction fees to get it from my wallet onto an exchange. So the gain from initial buy in minus the loss from transaction fees minus the trading fees are the gain being realized when you buy eth. Then you take and sell the eth for cdn. You have the gain or loss depending and being a seperate trade it is also realizing gains. But same thing. Fees are a loss etc. Now you take the cdn dollars and deposit it or whatever and the fees for that are a capital loss. Do that for all of your trades and keep it for when you get audited. If ever. Buying actual goods and services is a bit different and seems to fall under bartering tax laws. But seriously if you want to know whats up with it just go read through the tax rules. Its there on their website man.

>> No.8561322
File: 1.99 MB, 4032x3024, 25678211-7F69-462B-9831-C54878612ABD.jpg [View same] [iqdb] [saucenao] [google]
8561322

>>8560238
Like this OP.

>> No.8562314

>>8560426
If he cashed out at $18k he would have made more tax free earnings than said BTC is worth today. And the taxable part caps at like 42% if he is already in yhe top bracket.
Why does everyone here have some weird irrstional fear of taxes? And why do I share a business board with people who cant even figuire it out.