Is capital gain tax on forex trades executed with a cdn dealer due in Canada?And with a foreign dealer?
Ivaylo Y asked:
I am interested in trading forex but don’t know if capital gain tax is due in Canada on such trades? And what if I use a US based broker? I saw that some brokers are based in Swiss and other places and accounts open with them are capital tax exempt. Does anyone know more about it? Thanks.
This entry was posted
on Friday, February 13th, 2009 at 12:00 am and is filed under Canada.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
I am interested in trading forex but don’t know if capital gain tax is due in Canada on such trades? And what if I use a US based broker? I saw that some brokers are based in Swiss and other places and accounts open with them are capital tax exempt. Does anyone know more about it? Thanks.
February 13th, 2009 at 4:10 pm
The Tax law in Canada and the USA both want cap gains on earnings from forex trades.
Currently there is no IRS form that is sent from ther broker to you but is you do not report earnings it is against tax law…
Good luck