I started out investing in crypto but have learned a lot and are thinking of starting to trade.
Curious, for anyone who has done trading with crypto in Canada. At what point are you considered a business or an adventure. Can anyone advise from previous years with actual experience?
Also curious about the superficial loss rule. If you sell or buy back a crypto within 30 days, If you can’t count it as a loss, isn’t it a bit contradictory to then tax the gains?
As a trader do you get no tax protection from the downside then?
If you are a investor if you made a trade within that window, you simply can’t claim losses? This seems a bit unfair, if they are taxing the gains.
Again looking for reply’s with actual experience or solid knowledge on the topic.
Thanks so much.