Canadian fag here (not the plummer that's been spamming recently)

Canadian fag here (not the plummer that's been spamming recently)
Would you declare your bitcoin earnings if you're still a student?

Other urls found in this thread:

ey.com/ca/en/services/tax/tax-calculators-2017-personal-tax
twitter.com/NSFWRedditImage

Have you cashed out? If so

>cashing out

Yes. Students are not exempt from capital gains taxes.

Students don't have to pay taxes. I thought this was common knowledge

i'd start learning to be a plumber and ditch the meme college

...

What's the tax on capital gains in Canada? I saw some user saying he only had to pay $5500 when he cashed out $75k

>inb4 google it, faggot

You are only taxed on half of your capital gains at your tax bracket.

I hope you're in trade school kid, because let me tell you, it's the best decision I've ever made. You know what they say down where I'm from? If you don't plumb, just suck on a gun.

so trudo gets half my earnings??

Nice reading comprehension there, bud.

can you explain bro? I'm a brainlet

>Having the passion to be a plumber

Maybe not the case. Went on this site and it calculates I have to pay a little under 15% on capital gains based on my bracket.

ey.com/ca/en/services/tax/tax-calculators-2017-personal-tax

Also Canadian student. Pic related

No.

holy shit people have to give up 25% of their incomes?!?!? is it a good idea to be in education forever and trade on the side?

Yes, and that's 50% of your marginal tax rate.

lets say I'm currently up 20k from a 2k investment, what would that amount to???

An example:

You make $40000 capital gains from crypto. You live in Ontario. This make your marginal tax rate 20.05%. This means that you pay 10.025% tax on your crypto earnings.

prepare the crayons! this gone be a long night. mmmmhum.

thanks user

Which province?

Sorry for being rude. See for an explanation.

thanks

Thanks, man.

this is correct tho right? my accountant said you are taxed 50%, is he retarded?

this is still Veeky Forums. tits or gtfo you disgusting attention whore.

It's correct, you probably misunderstood your accountant.

Crypto gains in Canada are marked as capital gains. It's not taxed at 50%. Either you misheard your accountant or they're retarded .

Also a student studying in Ireland at the moment if that makes any difference

Assuming your capital gains are marked as income, you will pay 7.50% tax if you cash out. Should confirm this with a tax professional though.