Trading Futures and Taxes for Canadians

Discussion in 'Index Futures' started by trade-it, Aug 2, 2007.

  1. trade-it


    How are we as Canadians taxed for trading futures? I'm getting mixed responses to this whether it be capital gains or income.

    Thanks for the response and I hope I have the right thread
  2. All I can tell is what my Canadian friend has told me. His account is in the US and he doesn't get taxed until he repatriates the money back to Canada.
  3. If you declare yourself as a professional trader, then the trading income is taxed as your earned income similar to running a small business yourself.
  4. trade-it


    I have other self employment income,so I do not trade full time but trade on days off or first thing in morning, and I thought Revenue Canada was the one to say weather or not they conceder you a trader?