How to Cashout

Hello frens, I am a fellow CanaBro and an I want to cashout some crypto gains, I went all in last year wen i was 17 with 2000 dollarinos with my father KYCing on Binance. Binance is now deleted or banned or some I cashed out 5k+ on Newton I dont want to go above 10K without a plan I need to know how can I cashout 50k+ worth of crypto without getting taxed by the CRA I am broke in real life an want to buy a car an my mom some stuff and just have some irl money someone help I dont want to get taxed at all I have 1000+ Shitcoin transactions, earnings from 2 projects I made and NFTs its a literal shitshow I switched metamask wallets like 3 different times aswell plez help

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Rail -> XMR -> Hold

beyond fucked

please explain user, I have 100k I want to cashout 50k wat do i do wat to doooo

shitcoin -> XMR -> localmonero p2p trade, little by little

There is no way to cash out that amount without the government knowing. You can find someone privately to sell, but that makes no sense to the buyer because he can’t use that as a cost basis when he does taxes. Using identity theft will work if you know the right people.

mint NFT and buy it from yourself m0a2m

okay how can I get minimually taxed what amount should I slowly cashout, what the method ser what if they ask me how I made the money whats my alibi I cant give me 1000 BSCSCAN and ETHERSCAN and SNOWTRACE and FTMSCAN transactions SHould I buy a NFT off a alternate wallet and buy it off myself off a fresh wallet?

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I’ll pretend I’m the auditor from the cra.

So user, I noticed you sold an nft and have all this cash. That’s still income, you did put that on your t4 right?

You can pay zero tax if you withdraw the sum. The catch is you have to put enough of it into a RRSP to balance the capital gains tax.

Yes after that how much would they tax me remeber Im a 18 year old wagie who just recently quit his job at a superstore pushing carts

imagine being a CanaCuck in 2022 lmao

Oh thats smart how does that work, evem tho the max on RRSP is like 6k a year or some, how would it work exactly??

Localmonero

rip ;(

Depending on province if you earn less than 25k you pay effectively 0 tax.

they r lowballing

Check your cra account for what your rrsp contribution limit is. The limit rises for any year you did not contribute.

what woawwwwwwwww even on capital gains WAOWWW

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ty ser I preciate this

The exchanges are gonna lowball you too it’s part of the game. Best is to not cash out.