You are viewing a single comment's thread from:

RE: HIVE / LEO in my appraisal

in LeoFinance3 years ago

In Canada, you have to claim the gifts you receive. Not sure everyone does and many fail to even report on the airmiles or other reward programs when claiming rewards.

We also have sales tax where the transactions definitely should include some sort of tax, even when crypto is the currency.

Either way, we are bound by law to accurately report our income and pay taxes on domestic transactions. I suspect the hammer will fall on people when the government gets around to being able to police it but they will have to approve it as legal tender then too.

Now, it is the wild west.

Sort:  

Not sure everyone does and many fail to even report on the airmiles or other reward programs when claiming rewards.

I think, people just do not want to pay tax on everything, unless forced.