Anyone in canada know how taxes would work with a US based broker? I trade equities/options right now with a canadian broker and they send me tax reciepts every year. Now I opened a futures trading account based in the US, how do I file taxes? what if I simply don't take anything out? can I just keep letting my investments compounds without paying taxes since they are US based income, but im exempt from US taxes, and canada has nothing to do with those profits.
wish I could help you, but I pay no taxes what so ever and yes I am one of the canucks BTW let me ask you why do you pay taxes. are you a patriot or are you ignorant of loopholes.
Infooo, I am an unpatriotic canuck who pays taxes, rather unwillingly. Would you be so kind as to share with me some of these "loopholes" you speak of? I would greatly appreciate such an altruistic gesture on your behalf. Regards, Raskolnikov
first you have to incorporate on British islands and open accounts with UK CFD CMC market maker. which would let you trade anything you can imagine if you never heard of CFDs type in google, CMC markets .ca to move money and spend it in canada you need to have a good accountant make it so that money is foreign investment into Canadian small business. oh and one more thing. nothing I do is illegal, nothing
This is 2007. Revenue Canada is not manned by a bunch of retards wielding calculators. You may be able to accumulate wealth offshore... But it's unlikely you will avoid taxes when you repatriate to Canada. On issues like this... I would ONLY take the opinion... Of a CPA with minimum 10 years experience in offshore entities. There is also the MORAL issue of EXPLOITATION. "Canucks" who pay no taxes are sucking the blood of fellow Canadians... And always proud of it.
you are still supposed to declare your income the same as if you are in canada.it doesnt matter if you take anything out or not. you could try and ignore it and see what happens,maybe the cra won't find out.but if they do...ugh
I should just get my butt outta this desolated country. saskatchewan is a baren wasteland, -50c winters.. uhg.....
You'll want to pay Can taxes. the alternative is US taxes. There will probably be a withholding tax at the broker level and I believe Can. Capital Gains taxes are treated better than in the US.