Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.
You should make a video on how to avoid paying the CRA taxes on our hard earned gains. They're sending all our money to Ukraine and Philippines, so it's not like they're injecting back into our economy.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Veronica Hoy.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
So lets say. I invest 6k dollar in a crypto then sold this crypto at 1.2 million on profit (200x) do i have to pay 33% of that 1.2 million profits im sorry but that a huge scam. Im gonna move to dubai. 0% tax
Why do i have to track the cost i bought crypto each time? Can’t i just track the amout of total cad $ i put in crypto and then the total profit is the taxable income?
Thanks for the analysis! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). What's the best way to send them to Binance?
Wow, that's great. I make $1000 and then pay $3000 tax. How can the same money be taxed twice AND every transaction will be taxable? When I buy Ethereum to facilitate a purchase, I then have to pay tax on that, then pay tax on any profit the earned on the target coin I purchased. Then, pay tax on the coin when I trade it for Ethereum during my exit, because the centralized institution I am exiting through probably doesn't buy the token I bought with Ethereum. Then pay tax on the USD to CAD transaction. It sounds like the government woke up to how much money is involved and they don't want anyone to have any of that!
Could you explain what you mean by trading cryptocurrencies while carrying on a business? What if my business is not cryptocurrency related? Does it count as income tax?
so lets say i get into crypto today , and just buy BTC and hold it in my cold wallet , - for the next 5-10 years all i do is buy BTC and store it , from what i understand i dont need to do anything or worry about taxes , up until the point i decide to sell / trade / use my crypto for anything other then holding it ? correct? - thks for this video - hope i can get clarification on this question
There are lots of restrictions for using CAD$ in the various exchanges. Should Canadians change their money into US$ and trade in that ? Are there tax difficulties from doing that ?
Hello I am new in trading crypto and worry about the tax, can you recommend me a software here in canada where i can trade crypto using tfsa, but like to trade in us currency. Thank you
Being Aboriginal I'm sure I can get away with not being robbed by unlawful crypto taxes. Section 87 of the Indian Act exempts the "personal property" of status Indians from taxation. This includes Income earned on a reserve (including income from employment or investment). Property located on a reserve can't be taxed for me. All I need is to be on the reserve when I sell my crypto this bull run and put it into a bank on a reserve like CIBC. I've bought and sold many things on the reserves and never paid taxes including on my income. Crypto sales on reserves by Aboriginals have to be the same because the CRA admits crypto is personal property. Everyone needs to resist. Free people don't get robbed with unlawful taxes by tyrants.
Thank you for the video! But let me understand something… A person buys Bitcoin at different prices multiple times during the year or years, from $3k to $20k and move it to a wallet and do not sell it. The prices and values of that wallet fluctuates, up and down… Do you pay taxes on that? Even if you just hold it? Thank you!
I've made various purchases at different price points but the cra never came after me, but this is the first time withdrew it in fiat as a capital gain so I'm assuming i fill out the form and pay taxes
@@fardinahoque7439yes that’s my question. I’ve made several purchases and also sold for fiat several of times, however I purchased at different times and sold whatever I needed to convert to fiat….in my case it wouldn’t be possible to do the taxes. I’ve made purchases since 2020 and they’re all different amounts, at different prices. I’ve also sold throughout 2023 maybe like .3 here and .8 there for extra cash….how would I be able to determine if I made a profit, if my purchases were done randomly from 2020 at different amounts( usually an eth at a time)……if you guys get what I’m trying to say. No one buys one btc and then sell a btc. You normally buy it in increments and then when you’re ready to sell you can sell in increments or sell as a whole. However that’s up to, and your needs.
@@fardinahoque7439 Hi! I'm just starting out and I have never withdrawn yet. I do trade coins thought, but all are in my wallet. So, do i need to report it in the upcoming tax year or I''m good until I make a withdrawl in cash?
Hi there, I have just a question! If I buy (for instance) a cryptocurrency at $10, that one reaches $100 and I exchange it for another cryptocurrency, I will have to pay tax on the $90 capital gain. If I go to withdraw this $90, I have to pay taxes on the withdrawal. Does this mean that I have to pay taxes twice, both for trading and withdrawal? Thank you.
I have net capital losses from the disposition of bitcoin stemming from donations to the Ukraine government. Are the very small transaction fees deductible in calculating capital losses? Also I know it is a long short but are donations to the Ukraine government considered charitable donations?
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What is the best strategy to enter crypto trading now for someone with more or less than $15k to invest?
As a beginner, it's essential for you to have a guardian to keep you accountable. I'm guided by Stephany reuben
Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.
Building an invstment portfolio is complex. Seek expertise like Stephany reuben to minimize potential losses
Almost gave up due to constant losses, but Steph turned my luck around
Steph managing my portfolio was my best decision. I have withdrawn over 180k since
Can you show us where all these rules are written in the Canadian tax code?
You should make a video on how to avoid paying the CRA taxes on our hard earned gains. They're sending all our money to Ukraine and Philippines, so it's not like they're injecting back into our economy.
What do I do about my crypto losses in the Celcius bankruptcy?
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Veronica Hoy.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Veronica Hoy too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
So lets say. I invest 6k dollar in a crypto then sold this crypto at 1.2 million on profit (200x) do i have to pay 33% of that 1.2 million profits im sorry but that a huge scam. Im gonna move to dubai. 0% tax
Justin wants his cut
That’s how taxes work buddy
@Overcast_Plague tax= scam. Last year a lost 8k and they dont give a fk. They don't reduce my tax
Exactly, moving to America myself. Canada is a socialist tax-ridden shithole
@@Overcast_PlagueTaxes in Canada are extortion at this point
Why do i have to track the cost i bought crypto each time? Can’t i just track the amout of total cad $ i put in crypto and then the total profit is the taxable income?
Thanks for the analysis! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). What's the best way to send them to Binance?
so on a 100 grand your only paying 7.5 grand, or 7.5 %. Still theft, but not the worst.
So ..... leave Canada now?
What if I put the money in my bank account and deleted the app
You will be taxed for the whole amount, not capital gain
You have to put it in your account withdraw it then go hide in the jungle..
@@TheMarky26 imaaao
Palau
Wow, that's great. I make $1000 and then pay $3000 tax. How can the same money be taxed twice AND every transaction will be taxable? When I buy Ethereum to facilitate a purchase, I then have to pay tax on that, then pay tax on any profit the earned on the target coin I purchased. Then, pay tax on the coin when I trade it for Ethereum during my exit, because the centralized institution I am exiting through probably doesn't buy the token I bought with Ethereum. Then pay tax on the USD to CAD transaction. It sounds like the government woke up to how much money is involved and they don't want anyone to have any of that!
So if i make 30k in income at walmart that means i only have to pay 15% in crypto taxes??
same question! is that so?
Could you explain what you mean by trading cryptocurrencies while carrying on a business? What if my business is not cryptocurrency related? Does it count as income tax?
so lets say i get into crypto today , and just buy BTC and hold it in my cold wallet , - for the next 5-10 years all i do is buy BTC and store it , from what i understand i dont need to do anything or worry about taxes , up until the point i decide to sell / trade / use my crypto for anything other then holding it ? correct? - thks for this video - hope i can get clarification on this question
There are lots of restrictions for using CAD$ in the various exchanges. Should Canadians change their money into US$ and trade in that ? Are there tax difficulties from doing that ?
Should I pay taxes on my unsold staking rewards?
God I hope not ...
Do you have a video on taxes related to NFT's?
You probably forgot about provincial taxes
Hello I am new in trading crypto and worry about the tax, can you recommend me a software here in canada where i can trade crypto using tfsa, but like to trade in us currency. Thank you
Try Kraken! Idk bout tfsa but yes its fir canadians and it does keep records of transactions for tax :)
hi great video , who to connect to coin ledger for taxes trading coin base ,,thanks
Being Aboriginal I'm sure I can get away with not being robbed by unlawful crypto taxes. Section 87 of the Indian Act exempts the "personal property" of status Indians from taxation. This includes Income earned on a reserve (including income from employment or investment). Property located on a reserve can't be taxed for me. All I need is to be on the reserve when I sell my crypto this bull run and put it into a bank on a reserve like CIBC. I've bought and sold many things on the reserves and never paid taxes including on my income. Crypto sales on reserves by Aboriginals have to be the same because the CRA admits crypto is personal property. Everyone needs to resist. Free people don't get robbed with unlawful taxes by tyrants.
Thank you for the video! But let me understand something… A person buys Bitcoin at different prices multiple times during the year or years, from $3k to $20k and move it to a wallet and do not sell it. The prices and values of that wallet fluctuates, up and down… Do you pay taxes on that? Even if you just hold it?
Thank you!
No only if you dispose of it and make either a capital gain/loss
I've made various purchases at different price points but the cra never came after me, but this is the first time withdrew it in fiat as a capital gain so I'm assuming i fill out the form and pay taxes
@@fardinahoque7439yes that’s my question. I’ve made several purchases and also sold for fiat several of times, however I purchased at different times and sold whatever I needed to convert to fiat….in my case it wouldn’t be possible to do the taxes. I’ve made purchases since 2020 and they’re all different amounts, at different prices. I’ve also sold throughout 2023 maybe like .3 here and .8 there for extra cash….how would I be able to determine if I made a profit, if my purchases were done randomly from 2020 at different amounts( usually an eth at a time)……if you guys get what I’m trying to say. No one buys one btc and then sell a btc. You normally buy it in increments and then when you’re ready to sell you can sell in increments or sell as a whole. However that’s up to, and your needs.
@@fardinahoque7439 Hi! I'm just starting out and I have never withdrawn yet. I do trade coins thought, but all are in my wallet. So, do i need to report it in the upcoming tax year or I''m good until I make a withdrawl in cash?
Hi there, I have just a question!
If I buy (for instance) a cryptocurrency at $10, that one reaches $100 and I exchange it for another cryptocurrency, I will have to pay tax on the $90 capital gain.
If I go to withdraw this $90, I have to pay taxes on the withdrawal.
Does this mean that I have to pay taxes twice, both for trading and withdrawal?
Thank you.
you're not taxed on the withdrawal
I have net capital losses from the disposition of bitcoin stemming from donations to the Ukraine government. Are the very small transaction fees deductible in calculating capital losses? Also I know it is a long short but are donations to the Ukraine government considered charitable donations?
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