Quote from: jakesun64 on May 21, 2021, 01:17:02 PM

Quote from: sunsilk on May 18, 2021, 09:44:44 PM

Quote from: jakesun64 on May 18, 2021, 07:17:16 PM

Is bitcoin taxed in canada? i think I heard it is only taxed when you sell it, and then depends on how much you made.

It is taxed when you sold it already because here goes the gain. And usually, gains are always taxed and if you want to know more about taxation, it's either you to talk to someone who's living in Canada do and have done filed his taxation with his gains through bitcoin.

And the other option that you can do is to contact the tax agency and have a consultation with any taxation professional. Well, some information are searchable through google.

Like this one: Is Bitcoin Taxable In Canada?

What if you directly sell it for a privacy coin like pirate chain? There is no money made doing this, and do they even know where the bitcoin went? I would be using a decentralized no kyc p2p exchange to do this.

Theb has answered your question.

I'll just add, after that what's next? you're still going to exchange that pirate chain into fiat do you? then the gain will still be existing no matter what will be the coins that you'll be trading after bitcoin.

You'll still be taxed no matter what you trade as long as it's a gain.