>Crypto to crypto isn't a taxable event

The good thing is Canada is also a braindead socialist country and you can anonymously buy crypto, put it on a client backbone wallet directly attached to the blockchain and theres nothing they can do.

Yes , this is the IRS Crypto Department. You are speaking with Mr.Basedovic how can i help you with your cryptocurrency related questions?

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plz explain, so how do you cash out

I don't understand why crypto-to-crypto is considered a taxable event. Shouldn't it just be based on the difference between how much fiat you deposited and how much you withdrew, net?

uhhh no you still need to pay tax in the netherlands

Explain to me like I’m a thick English cunt.

lol no

I'm sure either of these fine countries are happy to offer citizenship to crypto neets who will not pay taxes

agree

Alright cunt
>pay 20k in 2020 tax year (before April)
>once it’s in the ISA account, choose to have it as cash or as investments
>pay another 20k in 2021 tax year
>You now have 40k saved and can switch it between investments and cash as much as you want
>this allows you to buy and sell stocks and funds as and when you want to maximise gains
>because it’s an ISA, any gains you ever have from it will be tax free
It’s a pretty great way to save in the UK desu. You could have 100k in 5 years if you live at home with an average paying job and all the gains on it would be tax free

Tax this you bitch
>unknown amount of monero was sent from ???? to (REDACTED)

based

Hands in the air faggot.

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You only have to pay taxes on crypto in the UK once you cash out for fiat, iirc.

Lucky for me the cucked german law is in my favor for once

hodl 1 year and cashing out is taxfree.
It does technically not even need to be in the tax declaration.

only Crypto to crypto trades that amount to profit over $100 should be taxed, the required reporting is impossible right now. Buying a soda with crypto shouldn't be a taxable event either. Hopefully this changes soon.

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Exactly

I aint giving merkelcuck and shaniquas and chantals any dime in taxes just to feed their 6 kids from assi toni and tyrones

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Unless you renounce your previous citizenship and get Portuguese citizenship, you're still liable for paying taxes to your home nation. Otherwise, you're just performing tax evasion.

If you trade or mine, yes. It will count as professional income. If you've been sitting on tokens or coins for years then it's capital gains. Each Canadian dollar worth of gains would count as 50 cents income and be taxed accordingly. It will work out to 23% on every dollar over 400K and less for each dollar on the way to 400K. Subtract your adjusted cost basis from each dollar.

If you've been trading for years you're better off trying to launder your gains. Doing it legally would involve paying the professional tax rate (46%) plus interest on crypto to crypto trades for years you didn't declare. It ends up capping out at about 70% plus any lump sum fines that are levied against you.

So if you weren't long term investing, launder it. If you can't launder it without losing more than 23% and you were long term investing, declare it and keep it in plain sight.

How please

stocks and shares ISA is absolutely based, one of the few good things about this shitty island