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RE: When the Government Thinks They Own Your Labour, Your Money, Your Art
I was just reading about this the other day. I also learned that if you buy a car at a dealership and get a "rebate" or "cashback," your going to pay the tax on the price of the vehicle before the rebate was applied. So if you get a rebate of $10K, in Canada you're going to pay $1500 extra taxes on something just because the government says so. Load of shit if you ask me.
I'm wondering about the implications of not mentioning anything you might make on steemit. Trading your words for a little cash. How hard would it be once this thing gets really popular?
I think one great thing about Steemit is, all of a sudden, many people can be making a lot of money, out in the open, without the government necessarily having the resources to track everybody.
Roger Ver tells a story where, he had a friend who was a die-hard statist who was proud of paying taxes. The fellow bought a bitcoin, and when the price went up, he came to Ver and said "Please tell me how to hide my money!"
I suspect we'll see a lot more people deciding that maybe, they're not all that proud about paying taxes. Cryptocurrency might make cryptoanarchists of us all.
It's all shit.
I might be wrong, but I think as long as you keep your earnings in cryptocurrency it's still safe from government. But I think they're at least working on making new laws to tax Bitcoin... have any of those laws passed yet? If you trade in for government fiat, that's another story. But you'll probably be fine unless you're making mountains of cash off of this site.
CRA deemed it's necessary to claim your bitcoin. I read that in a news article somewhere. Not sure if it's a law, or something they may have said to a reporter for that info to get in the mainstream and trick people.
I think I'll take my chances.