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My first reaction was: How is Bitcoin taxed in Canada? After looking around, they indeed are: http://bitcoin.stackexchange.com/questions/535/tax-implications-i
by littledot5566 14y ago
My first reaction was: How is Bitcoin taxed in Canada?
After looking around, they indeed are: http://bitcoin.stackexchange.com/questions/535/tax-implications-in-canada-of-buying-and-selling-bitcoins http://bitcoin.stackexchange.com/questions/535/tax-implicati...
"Bitcoin would fall in the same category as foreign currency or barter, and would be taxable.
In Canada, barter is sometimes exempt from taxation"
It would be interesting to see under what conditions are Bitcoin considered as goods rather than currency.
- mctx 14y agoDo you pay the tax in BC or CAD?
- adestefan 14y agoIf you sold a house for Euros would you pay your Canadian taxes in Euros or CAD? I'm not sure why people are having such a hard time grasping this.
- illuminate 14y agoNovelty-seekers who can't seem to wrap their head around bitcoin being an evolution of existing concepts that've been around since money was invented.
- fyi80 14y agoReal estate is probably covered by another set of laws, as real estate has carefully tracked values, for property taxes.
- adestefan 14y agoA property value for taxation purposes has little to do with it's actual market value.