Canadian fag here (not the plummer that's been spamming

>>2879354
Have you cashed out? If so

>cashing out

>>2879354

Yes. Students are not exempt from capital gains taxes.

>>2879354
Students don't have to pay taxes. I thought this was common knowledge

>>2879354
i'd start learning to be a plumber and ditch the meme college

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>>2879641

What's the tax on capital gains in Canada? I saw some anon saying he only had to pay $5500 when he cashed out $75k

>inb4 google it, faggot

>>2879652


You are only taxed on half of your capital gains at your tax bracket.

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I hope you're in trade school kid, because let me tell you, it's the best decision I've ever made. You know what they say down where I'm from? If you don't plumb, just suck on a gun.

>>2879660
so trudo gets half my earnings??

>>2879668

Nice reading comprehension there, bud.

>>2879672
can you explain bro? I'm a brainlet

>>2879663
>Having the passion to be a plumber

>>2879660
Maybe not the case. Went on this site and it calculates I have to pay a little under 15% on capital gains based on my bracket.

http://www.ey.com/ca/en/services/tax/tax-calculators-2017-personal-tax

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>>2879354
Also Canadian student. Pic related

No.

>>2879691

holy shit people have to give up 25% of their incomes?!?!? is it a good idea to be in education forever and trade on the side?

>>2879691

Yes, and that's 50% of your marginal tax rate.

>>2879730

lets say I'm currently up 20k from a 2k investment, what would that amount to???

>>2879668

An example:

You make $40000 capital gains from crypto. You live in Ontario. This make your marginal tax rate 20.05%. This means that you pay 10.025% tax on your crypto earnings.

>>2879675
prepare the crayons! this gone be a long night. mmmmhum.

>>2879748
thanks anon

>>2879743

Which province?

>>2879675

Sorry for being rude. See >>2879748 for an explanation.

>>2879748
thanks

>>2879748
Thanks, man.

>>2879759
this is correct tho right? my accountant said you are taxed 50%, is he retarded?

>>2879710
this is still 4chan. tits or gtfo you disgusting attention whore.

>>2879778
It's correct, you probably misunderstood your accountant.

>>2879778

Crypto gains in Canada are marked as capital gains. It's not taxed at 50%. Either you misheard your accountant or they're retarded .

>>2879806
Also a student studying in Ireland at the moment if that makes any difference

>>2879806

Assuming your capital gains are marked as income, you will pay 7.50% tax if you cash out. Should confirm this with a tax professional though.