Quote:
Originally Posted by Winsor_Pilates
Yes, but I have more to invest instead of investing after tax dollars.
I only lose 12% to the tax man and can get more into the market instead of losing 40-50% and investing personal income and then investing the leftovers. Especially since crypto can't be under tax sheltered investments like a TFSA/RRSPs.
There's other things that apply too, it makes sense when my accountant talks to me, but this stuff honestly hurts my brain  .
I'll call my accountant anyway, but was just curious if anyone else had set up a corporate crypto structure. |
You would have to run the numbers in your situation but yes, you are deferring tax on a personal basis in your corporation until a time you pay out your dividends. This is advantageous if you can wait for a tax year where you are in a lower tax bracket. However your gains will be significant and taxed at a higher rate. Have your accountant run through both scenarios for you on paper.
You actually can run bitcoin through TFSA and RRSPs now that there are ETFs. I have a chunk of my TFSA in these.