Skip to main content

Featured

People's March: Thousands Rally in Washington Against Trump Ahead of Inauguration

  Thousands of demonstrators, predominantly women, took to the streets of Washington, D.C., on Saturday to protest President-elect Donald Trump just days before his inauguration. The event, known as the People's March, has been held annually since 2017 and was previously called the Women's March. The march, organized by a coalition of groups with varied interests such as climate change, immigration, and women's rights, aimed to confront "Trumpism" and draw on past successes against autocrats. Despite expectations of 50,000 participants, around 5,000 people gathered at three parks before marching to the Lincoln Memorial for the rally. Protesters carried signs with messages like "Feminists v. Fascists" and "People over politics," and many wore the iconic pink "pussy hats" from the 2017 Women's March. The event highlighted a range of issues, including gender justice, bodily autonomy, and democracy. The People's March has evolved ...

Cryptocurrency and Taxes: What You Need to Know


Cryptocurrency is a digital asset that is becoming increasingly popular among investors. However, the Canada Revenue Agency’s (CRA’s) stance on cryptocurrencies can lead to unexpected tax implications for investors.

Here are some key issues:

  • Taxable Events: Depositing crypto with a trading platform may be considered a taxable event if ownership is transferred to the platform.
  • Tax Consequences: The profit from the sale or transfer of crypto may be taxed as capital gain or business income, depending on whether it’s a capital asset or business inventory.
  • Loss Claims: Losses from crypto fraud may not be claimable if the individual doesn’t own the cryptocurrency according to the contractual relationship with the trading platform.
  • Investor Awareness: Investors should carefully review terms and conditions when depositing crypto, as CRA’s views could significantly impact tax obligations.

It is importance to understand CRA’s perspective on cryptocurrency ownership and taxation to avoid surprises.  If you’re unsure about the tax implications of your cryptocurrency investments, it’s best to consult a tax professional.




Comments

Popular Posts