I’m from Mexico city, and I need that someone help me to know the tax treatment of the income from forex in canada? I wonder if should be treated as interest, capital gains, other income or that would be the most appropriate, and also know the percentages of taxes that should be done by each of them, because what I have read tax laws in canada the tax paid depend on the city. I read in forums that the withholding tax percentage is 50% of earned income, but not how it should be handled exactly. Thanks for your’e attention.
[QUOTE=“TAX USER;760745”]I’m from Mexico city, and I need that someone help me to know the tax treatment of the income from forex in canada? I wonder if should be treated as interest, capital gains, other income or that would be the most appropriate, and also know the percentages of taxes that should be done by each of them, because what I have read tax laws in canada the tax paid depend on the city. I read in forums that the withholding tax percentage is 50% of earned income, but not how it should be handled exactly. Thanks for your’e attention.[/QUOTE]
Call a CPA. this place is full of looneys.