Business Income and Losses
For day traders, any profits and losses are treated as business income, not capital.
As a result, you can’t use the 50% capital gains rate on any profits. Instead, 100% of all profits are taxed at your current tax rate.
At the same time, 100% of any losses are deductible too; that can be applied to other sources of income as well.
For example, if you report an annual trading loss of $15,000 this year and you also run a business, you can deduct your trading losses against other sources of income. This includes money made from your other business, which can significantly reduce the amount you pay in taxes.
If you’re a full-time day trader, you can also claim expenses related to your trading.
Just like with any other business, you need to have receipts for all the items you declare on your tax returns.
The CRA will not accept these kinds of deductions without receipts.
Deductions can include anything from taking stock market trading courses, to educational resources, the purchase of a computer, and your monthly internet bill
巴菲特(廢老)
2021-6-28 00:28:37
She means her employer may hire her for 30 hours per week only. She may need to seek for part-time job for the remaining.
CNTower
2021-6-28 00:39:00
New immigrants to Canada must prepare a list of all securities, real estate and assets etc. at FMV on date of entry. This will help in calculating your gain/loss when you dispose them at a later date. Your gain since you landed may be subject to Canadian income tax.
e.g bought on Jan 4, 2018 $100,000
Landed date Aug 1, 2022 150,000
dispose date Sept 2022 160,000
taxable gain $160,000-$150,000 = $10,000- most likely considered as capital gain. therefore 50% taxable at whatever marginal rate you have.