Post
Topic
Board Legal
Re: If i move to Canada with BTC. Do i owe tax to canada goverment?
by
zasad@
on 02/02/2023, 10:58:48 UTC
If someone owns 10 BTC and move to canada for living there permanently. do he owns canada govt. any tax on that bitcoin? Can the canada government ask for source of those BTC and how they are earned?

First think if you were bringing fiat money in Canada, would they have tax you on that amount? I don't think it make sense to give tax on money which you are bringing to Canada. Also, this will discourage the immigrants to bring their money in Canada and of course no county wants that, so by common sense you should not be advised to pay tax on this amount.
Same should go for cryptocurrencies and bitcoin.
Every country has social networks for expats. There you can find the answer to this question. Many Russians now live in various countries of the world, and even in the USA many private exchangers have appeared. The minimum amount is 10,000 dollars, the commission when exchanging for cash is 1%. If you pay in cash, then it cannot be tracked. If you do not make expensive purchases. I am not against taxes, but first you need to get used to the country, and then solve tax issues.