Your Questions About Forex Accounts Canada The following Question and Answer is brought to you by our Forex Consultant with interaction from members of the Yahoo Answers community.
Is capital gain tax on forex trades executed with a cdn dealer due in Canada?And with a foreign dealer? I am interested in trading forex but donâ€™t know if capital gain tax is due in Canada on such trades? And what if I use a US based broker? I saw that some brokers are based in Swiss and other places and accounts open with them are capital tax exempt. Does anyone know more about it? Thanks.
admin answers: The Tax law in Canada and the USA both want cap gains on earnings from forex trades. Currently there is no IRS form that is sent from ther broker to you but is you do not report
earnings it is against tax lawâ€Ś Good luck
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