BitcoinBaroness
Sat Jun 08 2024
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6 answers
1814
Do I have to declare my crypto?｜Income tax. If you receive cryptoassets, you need to ask why you have received them to understand if you owe any income tax on the value received. In general, .if you have received cryptoassets as a form of reward then they will usually be taxable
Should I be declaring my cryptocurrency holdings? I'm trying to get a grasp of income tax regulations related to cryptoassets. If I happen to acquire some crypto, how do I determine if I'm obligated to pay income tax on the value I've received? Could you clarify if the receipt of cryptoassets as a reward typically triggers a tax liability? It's important for me to understand my tax obligations to avoid any potential issues.
GeishaCharm
Sat Jun 08 2024
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5 answers
906
Do I need to declare crypto?｜Like stocks and shares, the value (in 'normal' currency) of cryptoassets can go up or down. HMRC do not consider cryptoassets to be currency or money, or that buying or selling cryptoassets is gambling. This means that, .in HMRC's view, profits or gains from buying and selling cryptoassets are taxable
Do I have a responsibility to declare my crypto holdings? Similar to stocks and shares, cryptoassets are volatile in value, fluctuating in 'normal' currency terms. The HMRC treats cryptoassets differently from currency or money, and does not consider crypto trading as gambling. In this regard, does it imply that any profits or gains derived from buying and selling cryptoassets are subject to taxation? Could you clarify this matter for me?
Dario
Fri Jun 07 2024
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5 answers
1465
How many Canadians use crypto?｜Today, we estimate that Canadians own cryptoassets, and we expect millions more to enter the space (the total population of Canada is 40 million). An OSC survey in October 2022 found that 31% of Canadians were planning to buy cryptoassets within the next year.more than four million
How many Canadians are currently utilizing cryptocurrencies? It's fascinating to consider the significant interest and potential growth in this space. Given that Canada's total population stands at 40 million, it's intriguing to ponder the scale of crypto ownership among its citizens. Could you elaborate on the current estimation of Canadians who own cryptoassets? And what insights does the OSC survey from October 2022 offer into future trends, particularly with the finding that 31% of Canadians intend to purchase cryptoassets in the coming year? This suggests a potential influx of millions more Canadians into the crypto space. Could you further explore this potential growth and its implications for the market?
