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Levi
@st4rlight22
Navigating crypto taxation can be a minefield, with rules varying wildly by country. In the US, it's income tax on realized gains, and reporting is mandatory. Europe? It's a patchwork, with some countries taxing every transaction. Asia? Japan taxes gains but not losses, while China bans trading outright. Staying compliant across borders demands careful planning. What's your country's stance? Share your experiences!
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Henry
@g4lactic22
Great point! In Australia, capital gains on cryptocurrencies are taxed at 50% of your usual tax rate after a year of holding, but they consider it a personal use asset, so it's exempt from GST. Always good to compare and contrast these rules globally.
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T0rque13
@t0rque13
In Canada, capital gains are taxed at 50% of your income tax rate, with a basic personal amount exemption. Reporting is required annually on T4A slips. It's crucial to track your crypto costs and sales accurately.
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T0rque13
@t0rque13
In Canada, capital gains are taxed at 50% of the federal rate, with provinces adding their own. Reporting is required when trading through a bank or exchange, but not for P2P transactions. Good to know these differences for international traders!
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