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Offshore Corp - Canada 0% tax strategy
Can you expand? You are correct in the sense that there is no direct link. What's the advantage of personal trading income? I've been trading under my corp for 2 years now so wouldn't the CRA ask questions about sudden decrease in corp income and increase in personal? I don't really have any...- incognitoct
- Post #12
- Forum: Offshore Company
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Offshore Corp - Canada 0% tax strategy
I haven't gone through with it, Im leaning towards just paying taxes on everything and at least no risk of penalty. What makes it hard to prove/catch?- incognitoct
- Post #11
- Forum: Offshore Company
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Offshore Corp - Canada 0% tax strategy
There is no trading desk involved, given its crypto its mostly on dex and ledger wallets in very secure and remote locations. There is no direct relation other than when offboarding from crypto accures (hits the bank). My wallet address/es are not given to the CRA, I only file PnL statements at...- incognitoct
- Post #5
- Forum: Offshore Company
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Offshore Corp - Canada 0% tax strategy
Thanks for the reply, locations are still being evaluated for specific rates my apologies - bahamas 0%, dubai maybe. But yes, I'd be paying taxes on income 'earned' in the future. Yes dividents coming back would be 100% tax free- incognitoct
- Post #4
- Forum: Offshore Company
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Offshore Corp - Canada 0% tax strategy
Hello offshoretalk, I'm currently evaluating this strategy with respect to legality and legitimacy, its a little grey zone. I've been advised by an accountant that its definitely doable and now I'm curious to see what the offshore community thinks. For context, I'm a crypto trader with a...- incognitoct
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- Replies: 11
- Forum: Offshore Company