Here's how cryptocurrency is taxed in Canada....
http://www.cbc.ca/news/canada/toronto/cryptocurrency-income-tax-canada-1.4626837?cmp=FB_Post_News
"There's a huge community in Toronto and it's starting to spill into the real world with lots of cryptocurrency meetups and blockchain meetups."
According to the CRA, tax rules apply to digital currency transactions, including those made with cryptocurrencies. Using digital currency does not exempt consumers from tax obligations.
McCann says when you sell or exchange cryptocurrency and realize a profit, you have to report it for Canadian tax purposes, no matter where in the world the trading platform is, because Canadians are taxed on their worldwide income.
For most Canadians, this would mean reporting it on your personal return, claiming it as a capital gain, 50 per cent of which would be taxable."
Most countries in the world are trying to fight digital currencies by imposing income taxes on them or preventing them from the basics, but digital currencies are imposing a strong presence
Bitcoin is currently mooning. My favourite coin
Thank you for posting and explain about the tax, resteem and upvoted, doing my taxes this days.
you are really great.because you Better explain how cryptos taxed in Canada..its very great post of bitcoin cryptocurrency.. Most countries in the world are trying to fight digital currencies by imposing income taxes on them or preventing them from the basics, but digital currencies are imposing a strong presence.thanks to sharing for your good valuable post... very well done.. dear...friend... @elewarne
50 per cent of which would be taxable to Canadians via cryptocurrency profit bad info to them.
Excellent post and very useful. thanks for sharing
@elewarne
Have a great day
Thats informative. But 50% tax for canadians. Thats something weird from their government.
Thanks for sharing this info
the great article. thanks for information @elewarne
100% like and resteem
Cryptocurrency price and value increasing day by day.
The people will soon know about the importance of cryptocurrency. 🤗
We are so lucky that we have the knowledge and experience how to use cryptocurrency.
Thanks @elewarne sir for sharing this post.
Upvoted + resteemed your post.
I confirm this. All my research in Canada has pointed to this. CoinSquare documents what is necessary in filing.