Canadian PM proposes capital gains tax on stocks and cryptocurrencies
Golden Finance reported that Canadian Prime Minister Justin Trudeau proposed a new capital gains tax, which will range from 50% to 67%. According to the Canadian Revenue Agency website, common capital property includes villas, securities (such as stocks, bonds, cryptocurrencies and mutual fund trust units), land and buildings. In Canada, taxpayers do not need to pay taxes on the purchase or holding of cryptocurrencies. Capital gains or business income from cryptocurrency sales, mining activities or other cryptocurrency-related transactions are taxed. Individual cryptocurrency holders are required to pay taxes on 50% of their total capital gains, while professional (day) traders are required to pay taxes on 100% of their profits.
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