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Do I report my capital gains from my Forex account?
Hi,
I live in Canada and I have a Forex broker (for trading currency) in Australia and I had gains (about $300) last year from a few trades. My question is am I suppose to report these on my tax return?
When I opened my broker account the only thing they asked me provide was my ID and address no SIN number or tax identification number so I’m just wondering.
Forex trade income is business income, reportable on line 130 of your T1 return.
You are taxed as a Canadian resident on your world income.
Forex News Recap 12.15.2010: Moody’s Warns Spain, GBP Down on Jobs Report, US Firms on CPI
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How much money do you need to start investing?
Currently I have around $ 400 dollars that I could towards investment, but I really want to read it before I begin what someone has ideas on good sites, or books that I should read. I prefer a more active style of investing (day trading or forex or something) and I wonder if there are good business brokerage Canadian
I agree with J. $ 400 can not be close enough to an active investor – costs only eat a big piece of this. Keep saving, putting aside more money and then buy money until you have more behind you.
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