Quote from: OgNasty on October 28, 2019, 03:49:28 AM

This is very true. While the US has some favorable capital gains tax rates, citizens in places like Canada, where 50% of the value of any capital gains are taxable, have to pay taxes on virtually every profitable Bitcoin sale no matter how small.

This means half the regular tax rate and there is no difference between short term and long term gains so it's generally more favorable for short term gains than in the US, which taxes short term gains at full rate. Long term gains are more complicated, if I remember well the long term rate can end up lower in Canada in income ranges somewhere between 40000 and 200000 and above 500000 due to differences in tax brackets. Provincial tax rates are often higher than state taxes tho... so the overall difference can vary slightly depending on where you live.

In the US people have to pay taxes on every gain too unless they're in the 0% bracket so not much difference here. Even at 0% they still need to file the 8949 and do the math just to show that they don't owe taxes.