Tax avoidance

That doesn't exist anymore.

Idiot. There are thresholds that trigger investigation. $500 Canadian is not even close enough to anything to raise any flags.
You are either a moron or this is a honeypot:
> hey, “anons” how do you guys launder your money

It's an exchange dude, how do I know the gov don't request info from them on all their clients? I've heard of people getting flagged for trading $3-4k in brokerage accounts. How did that amount trigger an investigation?

It seems more likely that they investigate whoever opens up any sort of trading or brokerage account instead. Am I wrong about this?

>That doesn't exist anymore.
So what do I do then? And are you actually in Panama or just larping?

What kind of shit monopoly money is that, it doesn't even glimmer

It's old CAD

Silvergoldbull.ca for buying gold/silver
Other than that just wait for an anger letter from the CRA, all my normie friends that got burned didn't bother claiming any crypto on their returns and they're waiting to see a letter before handing over money to the government.

Nice try, officer. Nice try.

What are the thresholds? Are they published? Within what time frames?

Ok thanks. How are you cashing out? I've become cash poor trading crypto. It's literally fucking ruined my life. The reason why I didn't sell the last bull run was because of fucking taxes.

Just pay your taxes you fucking nigger. Alternatively, if your gains are below like 10k just don't report shit, the CRA won't give two shits about your Mickey Mouse shitfolio.

I cashed out like 200k in 2017 and paid like 16k in taxes. Small price to pay for freedom of mind knowing that money is all mine and Trudeau can't do shit. Not worth the stress and repercussions trying to evade taxes on a moderate amount

Buying precious metals slowly. But I'm a miner so taxes don't apply to me fortunately. For you try shake pay, it's an app for buying and selling eth and btc, not sure if they submit tax info or have to report to FINTRAC. Other wise buy gold coins minted from the royal Canada mint and sell them to pawnshops and coin shows. But how much net worth are you trying to get out, over 50k?

simple
ceate a new identity then deposit the money into a new bank account everytime you get more than the non taxable amount

Google “fintrac”

The threshold is something like $10k per transaction where they’re obliged by law to report. Smaller transactions are on a case by case basis if they think you’re sketchy.
t. leaf but not a lawyer

Hnm, what I'd you're say, a US citizen, but you trust a Canadian citizen enough to cash out for you. Do they do a lot of back checking to where your crypto came from? Or do you just say, I sold 500k in crypto, here's my tax? 16k on 200k seems like peanuts, I think us taxes are higher

How did you only pay 16k tax on that amount? I would have gladly paid that. F my life. I don't even know what my gains are. I haven't even kept track. Whatever I gained I lost now anyways, but I just want to know what my responsibilities are if I decide to pull out like 2-3k every so often, for like bills and stuff. Should I be putting half of whatever I pull out aside or something?

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I was talking about brokerage accounts man. I know someone who got a tax bill saying they owed a bunch of money because they deposited like 3-4k with Questrade and traded some stocks.

Hmm, ID fraud sounds like a great idea... if you feel like having the feds kick down your door

Wouldn't be worth the risk considering the IRS will buttfuck you along with the CRA it's better to commit tax evasion in one country not two.

Money whore, plague, cancer

I just want your ass, pay your taxes you little whore

Fuck off weirdo

Because of all the wash trading and whatnot I did (unintentionally), my cost basis ended up working out to like 80k if you looked at the average price of all my buys (even though I only threw in 5k initial cash). That brought my taxable gain to 100k, and the cap gains rules mean you're only taxed on half the gain at your marginal amount, so I had 50k or so added to my taxable income. 2017 I was still a student and NEETed it up when I could've been looking for a job because I was too busy tending to my shitfolio, so that 50k ended up being pretty much my only income for the year. Tax rate on someone making 50-60k or so worked out to 16k. Not my problem if it wasn't done correctly, I got an accountant to sign off on it so it's his problem if CRA comes knocking.

>I got an accountant to sign off on it so it’s his problem
I hope you don’t actually believe this.

How much did you pay your accountant? Is he good? Also, what would be my tax responsibilities if I only want to pull out small chunks at a time?

Oh but I do.

Couple hundred bucks. Don't know enough to say if he's good but I was referred to him by someone else and he was a nice older guy so I figured why not. He was a crypto hobbyist so was fun to pick his brain about the markets.

Essentially when you see bitcoins for cash, you incur a taxable gain (or loss). Depending on the size of what you plan to cash out you probably won't have to worry about taxes since only wire transfers over 10k are reported (or multiple small wires adding up to 10k within a given period).

Offshore bank account and trade in an offshore exchange.
Just go on a holiday to Tokyo for a week and set shit up.

Creditors can come after that still though. Tokyo authorities would cooperate with the CRA. Is there any way around that?

Nice try, FBI.
You had to try, IRS!
It's your job, CIA!
Not this time, KGB!
You almost got me, MI6!

Paper "money"
Lol
This is how you "cash out". Buy crypto, get gains, buy gold and silver maple leafs online, sell them at local coin/bullion store(or hodl), profit.

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Wrong, you told your communist government that you have assets to steal. Time to pay up, bourgoisie. The issue isn't paying tax, it's your government knowing how much they can steal where.

that’s like 9% tax user, you larp. For me the issue isnt about being forced to pay taxes and rebelling against that, or some Atlas Shrugged bullshit, the issue is that i refuse to encourage, promote and support a system that oppresses its citizens, you go ahead and believe that your taxes are the closest thing to a utopian ideal, but the fact of the matter is the governemt has a vested interest in keeping problems unsolved, otherwise there would be no need for them to govern.

afaik i only have to pay taxes if i realize my winnings within 1 year