Some Bitcoin holders tax bill is now set when they leave the country instead of when they sell
In Canada, Australia, and a handful of other countries, leaving now triggers a tax bill on Bitcoin gains that have never been sold. Both countries treat the moment someone stops being a tax resident as a disposal, calculating the gain at that day's market price whether or not a single coin ever changes hands. Jeremy […] The post Some Bitcoin holders tax bill is now set when they leave the country instead of when they sell appeared first on CryptoSlate.
Key Takeaways
- In Canada, Australia, and a handful of other countries, leaving now triggers a tax bill on Bitcoin gains that have never been sold.
- Both countries treat the moment someone stops being a tax resident as a disposal, calculating the gain at that day's market price whether or not a single coin ever changes hands.
- Jeremy […] The post Some Bitcoin holders tax bill is now set when they leave the country instead of when they sell appeared first on CryptoSlate.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Regulation
What's the Deal With Nancy Pelosi and the Bloom Energy Stock Surge?
Pelosi disclosed millions of dollars in Bloom Energy investments weeks after shares and options were purchased through her husband's accounts, including a purchase just before the company reported record earnings.
Bitdeer Cranks up Bitcoin Mining Power While Rivals Stampede Into AI
Bitdeer Technologies Group is dropping roughly 1.93 exahash per second (EH/s) of bitcoin mining capacity into a 28-megawatt co-mining deal with Soluna Holdings at a wind-powered data center in South Texas. Bitdeer Sends Its Own Mining Fleet Into Soluna’s…
Here’s what happened in crypto today
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.