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ADAM MONTANA CHAT


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2 hours ago, kelpie said:

Bought from Ali in Bakersfield in 2009. Remember watching the rolling chats every night with Med, Mailman and others. It was always sooooo close to RV! 😛🤣🤣

 

Love your first post @kelpie. Here's a purple trophy to get your rep. started.

 

  pp

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Thought I would re-post this about taxes for all the Canadians. The Information is a few years old now but will give you an idea of roughly to expect as well as a starting point for your accountant as they all don't seem to have much of an idea about currency traders.

 

  pp

 

To start off, this was not gathered by me, but by a very respected poster from another site.

For all you Canadians out there who may not of gotten this Information as of yet. This was done by myself, and no one else.

Been posted at several locations, but want to help save Canadians some possible troubles.

 

Hey my fellow Canadians This may save you some time and searching and calling. This was gathered by myself, ( not me but a friend ) so I know its true. No matter what your accountant says, think about it, does anyone really believe that our Gov't will say, "wow" are you lucky and not want a piece of OUR pie?

 

Happy Reading, Enjoy !!!

 

   Most accountants have little to no experience with currency traders, so you will need this Information which I received from Revenue Canada, and not a web site or another persons Interpretation. This is REVENUE CANADA talking, a real person.

   Under Canadian tax laws we are subject to taxes under Regulation P4037, Section 17, paragraph 12-15. This directly relates to currency traders and tax Implications.

   In basic English, its as follows: (Example only) You take your 1 million $  from selling your Dinars, divide by two. No tax on first $500,000 or 50%. From the second $500,000 Minus your Investment money, say $1000.00. then minus $200.00. The remainder you pay tax on based on your yearly tax rate.

   The $200.00 is the exemption allowed for say, you were on holidays and came back with left over cash. Value jumps and you make a tidy some of say $300.00 over the cost of what you paid for it.

By law, that extra $100.00 must be claimed. Would most claim this small amount? Doubtful, but it is still the law.

   As well you have 364 days, before claiming your windfall. This will give you the time to top up RRSP's, and any other legal financial hiding spot.

   Remember, pay your taxes and move on, let the other guy/gal look over there shoulder the rest of their lives.

I am not an accountant, nor a financial adviser, just someone who spent way to many hours talking with Revenue Canada.

 

So print this off or save as I really hope this thing pops in the next couple of days,

 

     pp

 

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19 minutes ago, pokerplayer said:

 

Thought I would re-post this about taxes for all the Canadians. The Information is a few years old now but will give you an idea of roughly to expect as well as a starting point for your accountant as they all don't seem to have much of an idea about currency traders.

 

  pp

 

To start off, this was not gathered by me, but by a very respected poster from another site.

For all you Canadians out there who may not of gotten this Information as of yet. This was done by myself, and no one else.

Been posted at several locations, but want to help save Canadians some possible troubles.

 

Hey my fellow Canadians This may save you some time and searching and calling. This was gathered by myself, ( not me but a friend ) so I know its true. No matter what your accountant says, think about it, does anyone really believe that our Gov't will say, "wow" are you lucky and not want a piece of OUR pie?

 

Happy Reading, Enjoy !!!

 

   Most accountants have little to no experience with currency traders, so you will need this Information which I received from Revenue Canada, and not a web site or another persons Interpretation. This is REVENUE CANADA talking, a real person.

   Under Canadian tax laws we are subject to taxes under Regulation P4037, Section 17, paragraph 12-15. This directly relates to currency traders and tax Implications.

   In basic English, its as follows: (Example only) You take your 1 million $  from selling your Dinars, divide by two. No tax on first $500,000 or 50%. From the second $500,000 Minus your Investment money, say $1000.00. then minus $200.00. The remainder you pay tax on based on your yearly tax rate.

   The $200.00 is the exemption allowed for say, you were on holidays and came back with left over cash. Value jumps and you make a tidy some of say $300.00 over the cost of what you paid for it.

By law, that extra $100.00 must be claimed. Would most claim this small amount? Doubtful, but it is still the law.

   As well you have 364 days, before claiming your windfall. This will give you the time to top up RRSP's, and any other legal financial hiding spot.

   Remember, pay your taxes and move on, let the other guy/gal look over there shoulder the rest of their lives.

I am not an accountant, nor a financial adviser, just someone who spent way to many hours talking with Revenue Canada.

 

So print this off or save as I really hope this thing pops in the next couple of days,

 

     pp

 

Im not Canadian but found that interesting, thank you👍

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14 hours ago, Priscilla said:

waited soooo many years for this, sure hope the money is not used for a Nursing Home!!!’  Geeeeezzz SO TIRED OF WAITING FOR  AN RV !!🙄

My hopes as well Priscilla, guess if we all wind up using our newly gained wealth on a nursing home, we all need to pool some of our funds and open our own nursing home for just Dinarians. 🙄😁 

Edited by Bama Girl
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14 minutes ago, Bama Girl said:

My hopes as well Priscilla, guess if we all wind up using our newly gained wealth on a nursing home, we all need to pool some of our funds and open our own nursing home for just Dinarians. 🙄😁 

 

The thought of living in a nursing home, where everybody is uttering the word "SOON".....terrifies me.  :blink:

 

GO RV, then BV

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14 hours ago, Bama Girl said:

I bought my first Dinar on March 4, 2010 and was a nervous wreck if my check was going to get to Ali before the RV happened because I was told it was going to happen any minute. I was so glad when I knew my check arrived in time! 😁 “Any minute” has meant a decade for me but I’ve “met’ a lot of nice people on this ride. I’m just ready for the ride to be over. 🙄😊

God, Ali was my first online purchase. Man, that guy must have retired four times over from just the people here.  :lol:

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Normally, since this thread is in Adam's chat forum, I would come along and lock it.    But, you guys are having so much fun reminiscing about the past and dreaming about the future that I'm leaving it alone for now.   LOL     Carry on.......😀

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1 hour ago, paperboy said:

Normally, since this thread is in Adam's chat forum, I would come along and lock it.    But, you guys are having so much fun reminiscing about the past and dreaming about the future that I'm leaving it alone for now.   LOL     Carry on.......😀

 

Thxs PB and yes, were all having good natured fun. Its a nice release from being cooped up due to Covid

 

   pp

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Ali at Dinar Trade...was my first....2005 and then got mine looked at it and bought some more, found out my bank had them for alot less.....soooooo this is my bank story... go RV

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17 hours ago, Longtimelurker said:

Im not Canadian but found that interesting, thank you👍

 

17 hours ago, pokerplayer said:

 

Thought I would re-post this about taxes for all the Canadians. The Information is a few years old now but will give you an idea of roughly to expect as well as a starting point for your accountant as they all don't seem to have much of an idea about currency traders.

 

  pp

 

To start off, this was not gathered by me, but by a very respected poster from another site.

For all you Canadians out there who may not of gotten this Information as of yet. This was done by myself, and no one else.

Been posted at several locations, but want to help save Canadians some possible troubles.

 

Hey my fellow Canadians This may save you some time and searching and calling. This was gathered by myself, ( not me but a friend ) so I know its true. No matter what your accountant says, think about it, does anyone really believe that our Gov't will say, "wow" are you lucky and not want a piece of OUR pie?

 

Happy Reading, Enjoy !!!

 

   Most accountants have little to no experience with currency traders, so you will need this Information which I received from Revenue Canada, and not a web site or another persons Interpretation. This is REVENUE CANADA talking, a real person.

   Under Canadian tax laws we are subject to taxes under Regulation P4037, Section 17, paragraph 12-15. This directly relates to currency traders and tax Implications.

   In basic English, its as follows: (Example only) You take your 1 million $  from selling your Dinars, divide by two. No tax on first $500,000 or 50%. From the second $500,000 Minus your Investment money, say $1000.00. then minus $200.00. The remainder you pay tax on based on your yearly tax rate.

 

 

 

Thanks for the info, that's the same information that I have. Our Dinar will be taxed as capital gain as long as u have hold them for over 2 years. The only other information that I have is that the first 750K$ gain is also be written off as capital gain exemption if you have never took any in your life. So if you have 1M$ gain you can remove 750K it leaves 250K divided by 2 = 125K that gets added to you income in the year. You can also divide your gain between you and your wife, if she is on the buy receipt. That way you get 1.5M$ capital gain exemption.

 

I am not an accountant.... So I can be wrong

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Just now, Happy Man said:

 

 

Thanks for the info, that's the same information that I have. Our Dinar will be taxed as capital gain as long as u have hold them for over 2 years. The only other information that I have is that the first 750K$ gain is also be written off as capital gain exemption if you have never took any in your life. So if you have 1M$ gain you can remove 750K it leaves 250K divided by 2 = 125K that gets added to you income in the year. You can also divide your gain between you and your wife, if she is on the buy receipt. That way you get 1.5M$ capital gain exemption.

 

I am not an accountant.... So I can be wrong

 

 

Thanks for adding to the post Happy Man. What ever we can do to keep our money away from that blood sucking Trudeau is a bonus.

 

   pp

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1 hour ago, pokerplayer said:

 

 

Thanks for adding to the post Happy Man. What ever we can do to keep our money away from that blood sucking Trudeau is a bonus.

 

   pp

 

I so wish I could place these dinars into a TFRS account before they RV, if that could be then it would be 0 taxes on the gain. I was not able to find a bank that will hold my IQD in kind in an TFRS account.

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Just now, shawnee said:

 

thanks ,you guys , great info!

But I think that the OSI strategy is the best strategy to protect our IQD, more so with all these talk about taxing the rich at around 5% extra per year.

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