Buying silver from local dealers in Toronto?
was wondering if there is a local dealer in toronto where i can buy 10oz silver bars
Jul 3rd, 2010 12:28 pm
Jul 3rd, 2010 10:33 pm
Jul 4th, 2010 10:55 am
In this case, it's not a lot of money, so probably the easier option. But banks will charge more than a decent dealer. Similar to currency exchange, it's how the little places survive.
Jul 4th, 2010 10:57 am
much appreciated, thats what a few other people have said about dealing with banks. they charge ridiculously over spot
Jul 4th, 2010 11:22 am
Jul 4th, 2010 11:49 am
yeah i was wondering about that, how i should be reporting it in my incomeZenOps wrote: ↑Scotiabank is doing more of the metals nowadays:
https://www.scotiamocatta-estore.scotia ... ducts.aspx
They sell the 100oz silver bars.
Remember that Maple leaf coins are subject to tax in Ontario. Bullion is not.
"As long as you are not in the business of trading precious metals, gains or losses are capital in nature.
In Canada, half the gain on disposal is a taxable capital gain.
Holding gains are not taxable. The proceeds of disposition are net of commissions. Your cost base includes commissions.
Certain capital losses in other years can be applied against the gain."
for those that collect silver bars, are you loyal to one specific bar design or does it even matter to you?Everything you need to know about capital gains is in CRA's Guide T4037 Capital Gains. When both the buy and sell prices of a personal use property are under $1,000 there is no requirement to report.
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