Invaluable Tax Info for Canadian Traders

akeakamai · December 10, 2007, 6:22am

This is an up-to-date link to the Canada Revenue Agency’s page on how and where to report FX capital gains in Canada. It doesn’t explicitly say it on this page, but all FX capital gains fall under the same “50% taxable” rate as any other capital gain.

It certainly pays to trade for a living in Canada! It seems kind of unfair that professional traders only have to pay half the taxes that other professionals making similar incomes have to pay, but thats the law, and I hope for my sake that it doesn’t ever change! Hope this helps someone…

system · December 10, 2007, 10:40am

Thanks so much for the link, akeakamai. That’s information a few people, including myself, have been looking for.

I was told once that Forex income was taxed as Capital Gains here in Canada, but couldn’t find the proof. Now, we know for sure.

And, yes, it’s definitely good news!

gryphon316 · December 21, 2007, 4:12pm

Thank you very much for that information, just created an account to say thanks… well that and join babypips community, but that information is great.

so thanks again