Definitely Not Legal or Financial Advice.
The weekend shills are posting about the tax implications of DRS vs TFSA/RRSP, so I wanted to make Canadapes aware that there is a simple way to virtually guarantee that you do not owe any tax at all on your GME holdings during or after MOASS, no matter whether you hold them in a TFSA, RRSP, cash account, or margin account at your Canadian brokerage. In fact, if you play this right, during and after MOASS your brokerage shares will almost certainly become eligible as a capital loss for tax purposes. LFG!!! 🚀🚀🚀
Firstly, let's take a peek at the tax nightmare that Canadape DRS retards face so you can see why we are talking about this.
Imagine that you are a Canadape DRS retard that eventually paperhands at $69,420,741.69. For ease of math let's say you have a 50% marginal tax rate (it will actually be a bit lower depending on province) That means that you will pay 50% tax on 50% of your total gain which is ~$17,355,185 in capital gain tax. Why the fuck would anyone be so retarded that they would willingly pay $17 million in tax when they could just avoid owing tax altogether?
Can you imagine post-MOASS how every hoser is going to be mocking these DRS retards who will barely be able to afford a hundred Lambos with their paltry post-tax windfall? LMFAO! The worst part is that all that beautiful tax money is just completely wasted on things * that almost no one ever needs or benefits from. Sadly, conflating DRS retards with communists will be commonplace post-MOASS. No offence to communists intended.
Why would you seriously want to be a tax paying DRS retard when you can roll tax free the easy way?
I believe that avoiding all capital gains taxes on your GME during and after MOASS is as simple as continuing to hold your GME shares in your Canadian brokerage. It really is that easy! You most likely do not have to do a single thing other than this to avoid owing all Canadian taxes on your tendies. I don't think it makes any difference whether your GME shares are in a TFSA, RRSP, or in a cash or margin account. Let's take a look at exactly why this is so. Details vary a little by brokerage, but my opinion is during MOASS it will most likely be the same outcome regardless of which Canadian broker you are using.
For example, let's randomly use QuesTrade as our broker in this purely hypothetical example and say that we are currently hodling XXX bananas worth US$XX,XXX.69
Can we agree that during MOASS the price
... keep reading on reddit ➡
Hey fellow servants,
After a slew of different events that have happened recently in my employment at CRA, I am 99% sure I am going to be writing my letter of resignation later this week. I am honestly gutted that it has come to this point.
I have questions for you:
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Most of the “events” stem from one problem boss. That boss’s boss is the Director of the office. The director is known to be fairly caring about the people who work for him and wanting to improve the workplace. My question is, should I write him a letter detailing the events that lead to my eventual resignation or should I just do a clean cut and say very little on my way out??
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What should I do with my pension, and why? Lump sum or get monthly payments when I’m 65? I have been here over 2 years and I am on the “new” pension.
Thank you 🙏🏼
Hi I've been offered a job with Canada Revenue Agency as Business inquiries agent at call center or Collections SP004 position. I am currently working with municipal government and I have a permanent blue collar job. I have same benefits and almost exactly same pay as beeing offered by CRA but there isn't much chance of getting promoted or moving up soon. I just need some feedback from anyone who is working with CRA or have worked there to determine which career path to take.
Im a small business bookkeeper, but previous to this, I worked exclusively with big businesses who were publicly traded and employed hundreds if not thousands of workers. I recently finished a contract to reconcile over a decade of incorrectly reported returns and 2 years of unreported returns. I called CRA to inform them of the issue and the first thing I was asked was what the companys net revenue was. It was over $100m. They gave me a 1 year extension and offered an automatic repayment plan to have the account cleared up in 5 years. Easy peasy and if I needed an extension, just call them. No follow up, no extra reporting, nothing. I added a new small business client in June. I have never had to jump through so many hoops and the tetms of their repayment are absolutely devastating to the client. He will have to close his doors by December. As the primary bookkeeper to both accounts, I can say with complete confidence, that the larger company is going to take their remaining assets and use them as capital to start a new company and borrow off their existing capital to fund their new operation. Millions of dollars just written off and these millionaire idiots are just going to start over with no obligations The small business owner, who owes $22k to CRA, is now taking out a loan with 7% interest to pay back his outstanding. He's already had to make a $1000 per month commitment (plus his regular quarterly payments) and if he defaults once, he may face ridiculous penalties or even criminal charges. He is taking his financial obligations very seriously and is crippling his personal and business finances to do it. I'm so angry about this, and I can't tell the little guy, who will probably pay 3x as much as the multimillion dollar company will, because it would completely break him. If our governments were so concerned about tax cheats, why have they collected almost no money from the panama tax cheats? Why does this $22k tax bill have to be the money our government sinks it's teeth into instead of the likely billions of dollars the rich are blatantly hiding from the government??
Hello,
Has anyone completed a full legal name change (first and last) and changed their information with the Canada Revenue Agency? I sent a letter addressing my changes, signed and dated it and included a certified true copy of my legal name change documents at the beginning of the year but nothing has changed. Any advice on how this experience was for you or how long it took? Thank you.
https://www.cbc.ca/news/politics/canada-revenue-agency-cra-cyberattack-1.5688163
I know there have been some posts about people being hacked on here, looks like some details are starting to come out.
I was part of the wave of people seemingly randomly locked out of their CRA account a few weeks ago and I've been trying to access it ever since. Every time I try to call CRA I am forced to go through their ridiculous menu system only to be told at the end that everyone is too busy and their queues are full. Then the system hangs up on me. This has been going on for weeks.
This level of incompetency is unbelievable. What is going on at this agency? I'm just trying to file my taxes. Has anyone here had any luck getting their accounts unlocked? How were you able to contact anyone?
Myself like many hundred and thousands of Canadians are locked out of their online accounts.
The only solution at this time is to call Canada Revenue Agency
The only problem with that is they don't answer the phone. Like at all. I've called numerous times over the last couple weeks with three hour hold times, only to be disconnected due to a "technical error"
When you complain to Canada Revenue Agency here is their genius idea: CALL THEM
Something needs to be done. Either hire more bodies to answer the phones to get Canadians the support that they need or create another system that allows Canadians to get in contact with an agent without wasting hours or days waiting on hold.
If anyone else is having these issues I'd love to sit here an complain about it with you.
