Re: If i move to Canada with BTC. Do i owe tax to canada goverment?
Please read my questions again.
If someone buys cryptocurrency/ owns cryptocurrency before moving to canada then that means it is his capital before he become resident of canada so he should not be liable to pay tax on it in canada as this is the income from another country. no?
If you are a resident of a country at the time of selling your asset in their country then you are liable to pay taxes which can be whatever the rate the government proposed. But there are some countries with no tax policy which can be helpful for you in that case or else doing the trade-off the radar like via physical cash and nothing with bank account then you can avoid it too (illegally).If someone buys cryptocurrency/ owns cryptocurrency before moving to canada then that means it is his capital before he become resident of canada so he should not be liable to pay tax on it in canada as this is the income from another country. no?
On what basis do you say it's legal or illegal?
If everything were so simple, then there would not be so many lawyers and financial consulting companies in the world. Who should be trusted: someone else's opinion or the opinion of a financial lawyer?
Each service has a cost, in the case of the amount of $ 230,000, it is easier to legalize in Canada than in other countries. But I'm not a lawyer
