Daniel Gray CPA
Canada a tax haven!?
Quick study of short term gain IRS vs CRA CANADA - For the past 20 years, capital gains in Canada have been 50% taxable. Depending on one's province of residence, for high-income earners, the marginal tax rate on capital gains in 2020 can be 27%. Let's use cryptocurrency as our short-term gain example. Treaty sources non-FIRPTA gains to residency and IRS treats cryptocurrency gains/losses same as non-FIRPTA property gains/losses. Keep eye on Canada's March 2021 budget for pot