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Capital gains taxes. If you sold any of your gold investments for a profit this year — including gold stocks or shares of a gold ETF — you ... "Instead of a long-term capital gains tax at 20% ...
In most countries capital gains tax applies when precious metals are sold at a profit. Some countries also apply value added tax to precious metals. In the European Union, the trading of recognized gold coins and bullion products is VAT exempt, but no such allowance is given to silver. Elsewhere in Europe though, Norway has exempted both gold ...
A Capital gains tax was first introduced in Canada by Pierre Trudeau and his finance minister Edgar Benson in the 1971 Canadian federal budget. [56] Some exceptions apply, such as selling one's primary residence which may be exempt from taxation. [57] Capital gains made by investments in a Tax-Free Savings Account (TFSA) are not taxed.
If you invested in gold and sold it for a profit, you are probably looking for ways to minimize your taxes. Smart tax planning is crucial for the success of your investments. And there are ...
Individuals paid capital gains tax at their highest marginal rate of income tax (0%, 10%, 20% or 40% in the tax year 2007/8) but from 6 April 1998 were able to claim a taper relief which reduced the amount of a gain that is subject to capital gains tax (thus reducing the effective rate of tax) depending on whether the asset is a "business asset ...
The long-term capital gains tax rate for most assets, such as stocks or bonds, is 0%, 15% or 20%, depending on your income level and filing status. However, coins are considered collectibles ...
Individual income tax VAT or GST or Sales tax Capital gains tax [1] Inheritance/Estate Tax Further reading Lowest marginal rate Highest marginal rate Afghanistan: 20% [2] 0% [3] 20% [3] 0% [4] However, in Taliban run areas pre-Taliban rule, small fees were illegally added to some groceries. [5] Taxation in Afghanistan Albania: 15% [6] 0% [7] 23 ...
Reducing the capital gains taxes you pay on certain assets can keep more of your money in your own pocket. Capital gains taxes can range from 0% to 28%, depending on factors such as your income ...